Btc bear flag, history repeating itself
History is repeating it self, btc is about to go down and this time below 44k, analyzed btc charts from 2012 until now, and the movement is same, but different price range.
This time when btc falls below 200ma, it's not going cross up again. It might try for short time but it will fall again,
The algorithm written for btc repeats it self, no matter what is happening, news come in after the movement, just to cover manipulations from btc bots and exchanges that make the movement and of course earn money for exchanges.
I'm not talking about the delay that news can have, I'm talking about when something happens, not when published. It's understandable that news come out 30-60 minutes later.
Technical are overheated,
Rsi is in red zone for btc
no volume at all and rise happens, which scares me, and tells me disaster is waiting to happen.
Macd going into red zone
A lot of sell pressure, which tells me whales are booking profits, and then they will send btc down, it's easily done by margin trading if you have volume. They will buy at lower prices. Below 30k zone to average out, and have a run to 100k.
Nothing can be done, just be happy to buy lower
I think this bull run is over, it doesn't have that strength like previous bull runs, it had the strength like previous relief rallies.
Also btc jumping above 200ma and closing there, then falling below 200ma and closing there, and after above 200ma. It's same movement as relief rally, when ever real bull run happened it crossed 200ma and never closed below it again, to the point when bull run finished
I'm coming out from long positions, not going to risk my money for a 1000$ change in btc. Not worse the risk.
Climbing up is hard, but coming down is easy. You saw that yourself. When I was warning before that it will drop from 50k range. 48500 is good enough pull back in order to go more down and break resistance at 42k. You can see on order ladder or order book, there are practically no orders until that level to stop the fall. I wonder why whales don't put orders there, but only put big sell orders!?
I will go short ith small margin until 37k, it big supply zone. It will jump up from there, then I will short it again
Good luck and safe trading
Not financial Advice, recheck my analysis and make a decision, I hope you make the right one
This time when btc falls below 200ma, it's not going cross up again. It might try for short time but it will fall again,
The algorithm written for btc repeats it self, no matter what is happening, news come in after the movement, just to cover manipulations from btc bots and exchanges that make the movement and of course earn money for exchanges.
I'm not talking about the delay that news can have, I'm talking about when something happens, not when published. It's understandable that news come out 30-60 minutes later.
Technical are overheated,
Rsi is in red zone for btc
no volume at all and rise happens, which scares me, and tells me disaster is waiting to happen.
Macd going into red zone
A lot of sell pressure, which tells me whales are booking profits, and then they will send btc down, it's easily done by margin trading if you have volume. They will buy at lower prices. Below 30k zone to average out, and have a run to 100k.
Nothing can be done, just be happy to buy lower
I think this bull run is over, it doesn't have that strength like previous bull runs, it had the strength like previous relief rallies.
Also btc jumping above 200ma and closing there, then falling below 200ma and closing there, and after above 200ma. It's same movement as relief rally, when ever real bull run happened it crossed 200ma and never closed below it again, to the point when bull run finished
I'm coming out from long positions, not going to risk my money for a 1000$ change in btc. Not worse the risk.
Climbing up is hard, but coming down is easy. You saw that yourself. When I was warning before that it will drop from 50k range. 48500 is good enough pull back in order to go more down and break resistance at 42k. You can see on order ladder or order book, there are practically no orders until that level to stop the fall. I wonder why whales don't put orders there, but only put big sell orders!?
I will go short ith small margin until 37k, it big supply zone. It will jump up from there, then I will short it again
Good luck and safe trading
Not financial Advice, recheck my analysis and make a decision, I hope you make the right one
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