AND SO IT BEGINS BTCUSD 4H
Updated
The 15m has shown exhaustion from the last bullish push to save Bitcoin from destruction
The 4h is in a crucial area, a bearish break here strengthens a gastly bearish outlook
If this chart is confusing you, it's because it's inverted.
The Bearish Outlook:
Other Stuff:
The 4h is in a crucial area, a bearish break here strengthens a gastly bearish outlook
If this chart is confusing you, it's because it's inverted.
The Bearish Outlook:
Other Stuff:
Note
Can't always be right on the money. So be it. The 1hr broke out of the structure, so looking for that follow through, else i'm staying bearish for now.We had a good bearish break on the 15M but those signals are unreliable and can easily reverse as the 1hr was at resistance/ bullish support/ and didn't get the follow through we needed for my trade.
Perhaps we're waiting for bearish news from china, they did some bs payment that quelled the market forces, but really, nothing is going to stop the real estate crash there are lots of empty (crappy) buildings that are hurting investors and the cost of propping up a failed system and unnecessary construction is growing exponentially, hence all the debt those companies are in.
This is the last thing we needed when huge shortages are coming in. Rather parts are dissapearing. This will put a tremendous strain on top of hurting anyone who invested in chinese real estate.
This is going to topple down within the next month. Tether has used the USD they had in their account and loaned it out to chinese companies in the form of short term loans. They have not disclosed who they have papers from. They have said they do not have evergrande papers. Like that matter if the entire chinese market crashes and defaults the most likely borrowers, the real estate market probably have loans from tether, seeing that evergrande has 300+billion in USD loans?
This is not financial advice.
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1hr above, 4hr belowNote
"Perhaps we're waiting for bearish news from china," what assholes bitcoin banned with an extra ban on the bit. Welp, can't say I didn't see this coming, in a way, hahaha.Note
well this is as bullish as it's been for a while.a breakdown here is important for bears.
If this gets some follow through then there is a chance for a bullish reversal.
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Bulls are in the danger zone! a breakdown here would be pretty bad for the bulls.Note
another drop here and shes gonna take offNote
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didnt break down or out on the last few moves, still consolidating, coiling up for a big move soon.Note
so still no clear breakout either way on the 4 hour. still consolidating, still leaning to the bearish side...Note
Pretty important breakout for the bulls, im gonna have to consider the bullish option. Note
Resistance on the Daily, Note
Well it looked pretty good until it didn't...Guess bitcoin has other plans.
Can't rule out a global
meltdown.
Soon.
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