Bitcoin Liquid IndexShort
Imagine BTC having completed a bull market cycle. Oh but...
Imagine if BTC had formed a descending triangle from its ATH at 20k.
Imagine if BTC was still under that descending triangle resistance.
Imagine if the descending triangle's 1.618 fib target had not been reached yet.
Imagine if BTC had just completed an 1-2-3-4-5 Elliott Wave cycle (what comes after it?).
Imagine if BTC had just destroyed the uptrend support line that held the bull market since 2013.
Imagine if the monthly RSI was still high and the weekly stoch RSI already overbought.
Imagine if the volume was already dying (while BTC is in an uptrend).
Imagine if BTC had formed bearish divergence on the monthly chart (from the the 2013 ATH to the 2017 ATH ).
Imagine if the Mtgox trustee still had 120k BTC to sell.
Imagine if BTC had low liquidity and would dip 400$ every time a whale dumped 1k BTC .
Imagine if early adopters were still over 200000000% in profits from when they bought.
Imagine if LTC and ETH were only worth an handful of pennies two years ago.
Imagine if BTC had 7 TPS and terrible fees making it unusable (for its original purpose).
Now imagine if everyone told you that BTC has entered bull market (while still being under the downtrend resistance from ATH? while having MAs death crossing?)
Lesson : DYOR, don't listen to anyone, not even me (I'm serious, analyze each word I wrote and see by yourself if it is true).
Note : BTC could pump from here but it doesn't matter if it stays under that downtrend resistance (red line).
Imagine if BTC was still under that descending triangle resistance.
Imagine if the descending triangle's 1.618 fib target had not been reached yet.
Imagine if BTC had just completed an 1-2-3-4-5 Elliott Wave cycle (what comes after it?).
Imagine if BTC had just destroyed the uptrend support line that held the bull market since 2013.
Imagine if the monthly RSI was still high and the weekly stoch RSI already overbought.
Imagine if the volume was already dying (while BTC is in an uptrend).
Imagine if BTC had formed bearish divergence on the monthly chart (from the the 2013 ATH to the 2017 ATH ).
Imagine if the Mtgox trustee still had 120k BTC to sell.
Imagine if BTC had low liquidity and would dip 400$ every time a whale dumped 1k BTC .
Imagine if early adopters were still over 200000000% in profits from when they bought.
Imagine if LTC and ETH were only worth an handful of pennies two years ago.
Imagine if BTC had 7 TPS and terrible fees making it unusable (for its original purpose).
Now imagine if everyone told you that BTC has entered bull market (while still being under the downtrend resistance from ATH? while having MAs death crossing?)
Lesson : DYOR, don't listen to anyone, not even me (I'm serious, analyze each word I wrote and see by yourself if it is true).
Note : BTC could pump from here but it doesn't matter if it stays under that downtrend resistance (red line).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.