Hey friends,
I've spent over an hour on this post because the attention to detail, please SMASH that like button for me 👍
Bearish divergence (declining oscillator + rising price) ~ $12500 USD which initiated the downtrend (whales have been waiting for a proper distribution opportunity since 4k) ~ a perfect lower high of $4000 USD would be to bottom out on the next bearish macro rally around $6250 - $8150. Now of course if $8100 doesn't hold which is a major area of interest in my perspective, we go to $7100, then $6250. If the train doesn't want to stop there is a chance we'd crash to $3500 but that would create a lower high from $4000 and I can't see that happening.
I think from here we'll see up and down moves just to try and tamper into traders emotions, probably top out around $11400 if this TA plays out, invalidated above that price. (wicks above with sell pressure are fine), or we could of already found the local top.
Oscillator shows us just above 0 , but we've recovered from the dip and I think the market will make things difficult for buyers before they decide to actually rapidly pick up sell pressure. I think it will all happen quickly and throw most off, the ones who are planning for the move will likely be the only ones to catch the very top or quick scalpers etc.
Phases:
#1: (sideways ~ confusion phase) this was at 9k.
#2: (accumulation phase)
#3: change of trend zone
#4: smart money filled position (retail participation phase or dumb money entering the market) ~ public participation #1
#5: still making higher highs ~ public participation #2
#6: swing highs connecting phase (a, b, 1)
#7: bearish divergence (declining oscillator + rising price) ~ this was at 12.5k
#8: (change of trend) ~ trend line broken (11.2k)
#9: (distribution phase) ~ smart money has started entering positions while dumb money still thinks we're going to 14k
#10: (start of bearish pennant bottom) $9800
#11: (bear pennant top) not confirmed yet ~ WILL UPDATE:
#12: bear pennant breakdown confirmed ~ once $10950 - $10350 breaks
#13: (hell phase) ~ under $9800
Support levels under $9800: ~ cme gap 9600 (not filled)
The following prices are area's I'd look out for if we do break down.
~9200
~8800
~8500
~8100
~7800
~7100
~6250
I've spent over an hour on this post because the attention to detail, please SMASH that like button for me 👍
Bearish divergence (declining oscillator + rising price) ~ $12500 USD which initiated the downtrend (whales have been waiting for a proper distribution opportunity since 4k) ~ a perfect lower high of $4000 USD would be to bottom out on the next bearish macro rally around $6250 - $8150. Now of course if $8100 doesn't hold which is a major area of interest in my perspective, we go to $7100, then $6250. If the train doesn't want to stop there is a chance we'd crash to $3500 but that would create a lower high from $4000 and I can't see that happening.
I think from here we'll see up and down moves just to try and tamper into traders emotions, probably top out around $11400 if this TA plays out, invalidated above that price. (wicks above with sell pressure are fine), or we could of already found the local top.
Oscillator shows us just above 0 , but we've recovered from the dip and I think the market will make things difficult for buyers before they decide to actually rapidly pick up sell pressure. I think it will all happen quickly and throw most off, the ones who are planning for the move will likely be the only ones to catch the very top or quick scalpers etc.
Phases:
#1: (sideways ~ confusion phase) this was at 9k.
#2: (accumulation phase)
#3: change of trend zone
#4: smart money filled position (retail participation phase or dumb money entering the market) ~ public participation #1
#5: still making higher highs ~ public participation #2
#6: swing highs connecting phase (a, b, 1)
#7: bearish divergence (declining oscillator + rising price) ~ this was at 12.5k
#8: (change of trend) ~ trend line broken (11.2k)
#9: (distribution phase) ~ smart money has started entering positions while dumb money still thinks we're going to 14k
#10: (start of bearish pennant bottom) $9800
#11: (bear pennant top) not confirmed yet ~ WILL UPDATE:
#12: bear pennant breakdown confirmed ~ once $10950 - $10350 breaks
#13: (hell phase) ~ under $9800
Support levels under $9800: ~ cme gap 9600 (not filled)
The following prices are area's I'd look out for if we do break down.
~9200
~8800
~8500
~8100
~7800
~7100
~6250
Trade active
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.
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.