BITCOIN 😒 Wyckoff Distribution 👎 Short term pullback...
Updated
For Educational Purposes only. Please do not short Bitcoin while it's above its 200 Day Moving Average!
😢 More bearish than bullish sentiment based on price moves in relation to decreasing volume and decreasing Relative Strength Index.
💚 Bitcoin may have a chance to bounce off the 0.618 Fibonacci Retracement at $38,642
🚨 Bitcoin may break down and at the Sign of Weakness - Support Line at $36,571
😢 More bearish than bullish sentiment based on price moves in relation to decreasing volume and decreasing Relative Strength Index.
💚 Bitcoin may have a chance to bounce off the 0.618 Fibonacci Retracement at $38,642
🚨 Bitcoin may break down and at the Sign of Weakness - Support Line at $36,571
Note
Possible Bull Volume Reversal Spike???Note
I dunno guys... this bounce attempt looks like it's fading.Note
Looks like a bounce from here. Let's hope Bitcoin just ranges sideways for months to let the Altcoins catch up!Note
50 Percent of the dump got retraced!Now it's decision time for the Bulls and the Bears,
who will prevail?
Purple line is 1 Hour - 200 EMA
Note
50 Percent Rule:investopedia.com/terms/f/fiftypercentprinciple.asp
Note
Looks like a complex sideways correction. This is where all the day traders lose all their gains. Your Stop Losses will get tagged above and below. Do not trade this market. JUST HODL (and load up on Altcoins)
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