BTC (Y21.P1.E13). The BIG BEARISH CASE
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Hi All,
I have this gut feeling that this 50k is it and we will be heading down soon.
Let me be clear, not a BEARISH market but a correction to this level.
My thoughts:
> Many of the ALTs seem to have made a final top sign, over extended and hence retreating giving bearish structures.
> Macro level, BTC fits perfect for a pullback onto the daily 10/20 EMA
> The pull back would have confluence on the daily with the 10/20 EMA or the 0.618 fib level on this impulse
> RSI can be easily seems as a a bearish divergence
> BTC looks like it will not go higher with a sort of upward channel on the 1 hrly and obviously what looks like a upward wedge.
Here is the following case for BTC
Note the DAILY RSI or MACD, potential for the divergence to play out.
I have this gut feeling that this 50k is it and we will be heading down soon.
Let me be clear, not a BEARISH market but a correction to this level.
My thoughts:
> Many of the ALTs seem to have made a final top sign, over extended and hence retreating giving bearish structures.
> Macro level, BTC fits perfect for a pullback onto the daily 10/20 EMA
> The pull back would have confluence on the daily with the 10/20 EMA or the 0.618 fib level on this impulse
> RSI can be easily seems as a a bearish divergence
> BTC looks like it will not go higher with a sort of upward channel on the 1 hrly and obviously what looks like a upward wedge.
Here is the following case for BTC
Note the DAILY RSI or MACD, potential for the divergence to play out.
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This community has signals now but with no risk management comms.
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