BitcoinUpdated Diminishing returns of Don Kwons $Billion Bitcoin buys
Don Kwons Bitcoin buys having less and less effect on price, suggesting its mostly retail pushing price from FOMO. The volume is low suggesting Whales are not buying as crypto twitter likes to claim.
-Failing to break above the daily 200 MA
-Weakness at
48K
-Classic Wyckoff distribution top formation playing out on 1 hr chart similar to 2021 Q1
-Failing to break above the daily 200 MA
-Weakness at
48K-Classic Wyckoff distribution top formation playing out on 1 hr chart similar to 2021 Q1
Trade active
"The bull walks up the stairs and thee bear jumps out the window” means that a market drops ("bear") faster than it rises ("bull"). The saying has been cited in print since at least 2000.A similar saying is: “Up a staircase, down an elevator.”
Trade active
All going to plan. Lets see how the monthly candle closes tonight, so I can update my thoughts.Note
Forming a bear flag now. Nothing has changed. Still have my SHORT open.
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.