Good Morning TV!
First of all thank you so much for watching my videos and giving me support through the months. I do these analyses to ensure that you make better financial decisions with your money in the crypto market. None of this is investment advice but it is advice from someone who has been in the ebb and flow of markets for 11 years now. I come from the traditional markets and even I have been surprised by the amount of false exuberance and enthusiasm in a space when the market is clearly giving you bearish signals. There is no glory in losing money. It's okay to wait for proper confirmations and signs to enter a market even when you've missed the bottom. The best traders in the world do just that--wait for confirmation for the market to give you confirmed trend signals. And I am telling you that Bitcoin has not given you any indication that a bottom has been created or that we're starting to go up. Even factoring in the large Tether FUD move from few days ago shows you we've come back down to old resistance levels ($6800). People fail to realize that retailer money does not move the market, at all. It's always the smart money, whale money, institutional money that moves the markets. And let me tell you that they have left quite a while back and they're not back just yet. On the contrary, I've said multiple times that they've probably acquired a significant amount of BTC to further dump the market. Those who do not understand institutional order flow don't realize that these folks have the capability to be under water for a lot longer for the time being to create liquidity from retailers only to rebuy your Bitcoin a lot cheaper. This is classic engineered liquidity. You can look up case studies of this by a simple Google search or basic market research.
With that being said, I am 80% still convinced that there is further downside to go because of a few things
1. Too much bullish sentiment still left in the market
2. Capitulation has yet to happen
3. Bulls have not defended current OB strongly enough to create a higher high (prev. swing) to initiate some signs of reversal
4. The current PA clearly tells you that a majority of bulls who opened their positions around 6k area are not defending their demand zone strongly enough. They've either left the market completely or will have their stops triggered around $5500 and let prices sink to next OB ($3000-$4800) for fresh demand and new buyers
I lean bearish into 2019 unless we break beyond the targets stated in the video: $6800, $7500, $7900, and finally 10.4k. After this the skies are clear for the bull run. Until then, stay vigilant and don't get caught up in the hopium.
Cheers!