Crypto - Bitcoin Going Lower
Technical Idea for Bitcoin:
A Brief:
- Rising wedge reversal.
- Possibly a secondary entry at 52.5k~ for descending ML channel top retest. However, we have already retested the wedge (2x). Then retested the median line of the descending channel.
- Last pump was a washout before the flush (running stops), Bitcoin MMs are very tricky. Had you entered short at 50k~ at the first wedge break retest, the previous mad rally would likely have hit your reasonable stops. I saw tether being printed at a rapid pace to enact this. I smell desperation!
- Outside BB rejection.
- Full Moon reversal.
- Under 100 DMA with Death crosses incoming.
PVVol:
- Fading volume rally into a volatile and high volume sell-off (exhaustion + reversal).
It is honestly a fractal or an exact analog of the previous rally 2020 to April 2021 but with less liquidity. The tutes doing this probably are running the exact same algo and it is easy to see. The downsizing of the structure is a tell though of liquidity slipping out (you are welcome for the tip-off Goldman, BitFinex, Binance algos, whoever you are).
Coincidentally, the analog's drop would end at 40k~ which was a previous supply zone. Will need to watch there to see a potential bounce.
PT: <30k
GLHF
- DPT
A Brief:
- Rising wedge reversal.
- Possibly a secondary entry at 52.5k~ for descending ML channel top retest. However, we have already retested the wedge (2x). Then retested the median line of the descending channel.
- Last pump was a washout before the flush (running stops), Bitcoin MMs are very tricky. Had you entered short at 50k~ at the first wedge break retest, the previous mad rally would likely have hit your reasonable stops. I saw tether being printed at a rapid pace to enact this. I smell desperation!
- Outside BB rejection.
- Full Moon reversal.
- Under 100 DMA with Death crosses incoming.
PVVol:
- Fading volume rally into a volatile and high volume sell-off (exhaustion + reversal).
It is honestly a fractal or an exact analog of the previous rally 2020 to April 2021 but with less liquidity. The tutes doing this probably are running the exact same algo and it is easy to see. The downsizing of the structure is a tell though of liquidity slipping out (you are welcome for the tip-off Goldman, BitFinex, Binance algos, whoever you are).
Coincidentally, the analog's drop would end at 40k~ which was a previous supply zone. Will need to watch there to see a potential bounce.
PT: <30k
GLHF
- DPT
Note
Probably there are 2 parties involved:- Big seller (40k)
- Exchange/MM algo
Very likely there is a big seller with the algo distribution set at 40k, under 40k that sell pressure was not there, so you had an automatic rally, which caused this current bounce, and MM algo take the opportunity to harvest more liquidity with the bull run.exe
If Big seller is done, HODLers are in for a world of hurt.
Note
Makes a lot of sense, with the major CBs tapering, big money is going to be unloading this type of risk.by Wyckoff Distribution Schematics, all of that over 40k is excess. Big positions take a long time to distribute without instantly collapsing markets.
either slow bleed out now or classic bubble pattern 'return to normal' into Fear.
Btw, this what the bubble pattern would look like:
Note
Behold. It is as I said - the algorithm has been decoded:
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