Bitcoin is still in a distribution phase, sorry bulls.
Hi guys,
so my previous idea that we had a falling wedge with higher probability that we would make a push back upwards towards 7.8k range worked out pretty well
I was short term bullish, and I was watching and waiting for that tick upwards.. but I think the end is very near and we are heading towards a big crash down
in the very near future, maybe in the following weeks, most probably before the halving happens..
looking at everything, I am seeing a Wyckoff distribution pattern that is currently being followed, and this spike upwards was nothing more than our UTAD test
we will probably be ranging a bit within these areas for a few days maybe.. but I think a big drop and crash down out of our rising wedge is likely to be happening
if we do close our monthly candle above the EMA21 I will be very bullish for bitcoin.. so that monthly candle close will tell us all, and that's only 6 days away :)
so for now, my bearish bias still remains, if you want to hear more reasons why? then you can still watch me live on Facebook or Youtube, just google " The Dang Oracle "
have been streaming live daily 7.30PM (UTC+8)
see you on the next one. #stayhome #staysafe #staycovidfree
-Ryu
so my previous idea that we had a falling wedge with higher probability that we would make a push back upwards towards 7.8k range worked out pretty well
I was short term bullish, and I was watching and waiting for that tick upwards.. but I think the end is very near and we are heading towards a big crash down
in the very near future, maybe in the following weeks, most probably before the halving happens..
looking at everything, I am seeing a Wyckoff distribution pattern that is currently being followed, and this spike upwards was nothing more than our UTAD test
we will probably be ranging a bit within these areas for a few days maybe.. but I think a big drop and crash down out of our rising wedge is likely to be happening
if we do close our monthly candle above the EMA21 I will be very bullish for bitcoin.. so that monthly candle close will tell us all, and that's only 6 days away :)
so for now, my bearish bias still remains, if you want to hear more reasons why? then you can still watch me live on Facebook or Youtube, just google " The Dang Oracle "
have been streaming live daily 7.30PM (UTC+8)
see you on the next one. #stayhome #staysafe #staycovidfree
-Ryu
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.