Bitcoin: history repeats itself. For BITSTAMP: BTCUSD by RomanXIV

Hello everyone,

Fast mail for tonight. It’s hard to say, but I think so Bitcoin is about to fall. The story shows a clear repetition of itself within this diagram. Here is the technique:

1. Negative RSI and MACD: negative RSI and MACD synonymous with a trend weakness. When the price goes up and MACD / RSI do not correlate, it signals exhaustion.

2. Ascending Wedge: There are 2 clear ascending wedges Wedges on this diagram and this pattern is bearish . A break below confirms a subsequent bear movement.

3. Broken uptrend + retest: The uptrend has been broken (which means that a new trend is forming) and retested, which confirms that the old trend no longer exists.

4th Bearish Price Promotion: This current price promotion is volume decreases when the price increases. This implies a bear price action structure or a current trend exhaustion ( bullish Exhaustion).

5. We are not really in a bull market until all time highs have been tested and broken. – That should be clear.

6. The weekly HS clipping at 50,000 was retested: this confirms the bearish Head and shoulders Template.

I know this is not the post you want, but it is the post you need to at least think about. I did something similar to Bitcoin was between 50-65k. Look what happened. Protect your profits, use risk management and please stop listening to insane people excessively bullish People on crypto tweet and youtube. You make money when you get liquidated on trades. Note the high number of scam wicks recently.

As always, be patient, use risk management, and good luck trading.

Most related links:
todayeuknews government news financial news

Source link

Comments are closed.