BTCUSD - a resistance noone is mentioning
Hello guys!
I have some BIG warning signs for you:
Bubble Theory:
Do you really believe we are currently in the phase of a sucker's rally when everyone is shouting "BUY". I'd rather hear my friends ask me "Do you still believe in this sh** market???". Than I buy!
Emotions:
--Last week, friends and family came up to me and asked me how they can invest in Bitcoin, they read that it went to 5000$ and they believe it's going to 100000$.
--> A - Sell the news
--> B - When the crowd buys, sell!
--> C - Think like the big boys, not like the people who work hard for the money day in and day out
Chart:
=> Noone looks at that massive resistance which is coming down aslant from the previous bottom. This old support held for months, means it is HEAVY resistance.
=> The weekly RSI wasn't able to move above the 60 level which means, that we are still holding our bear trend(!). This could lead us into a bearish Monthly RSI which will trigger new lows.
=> TD Sequential hit a perfected 9 in every timeframe and in the 12h the perfection was confirmed with the pump to ~5460 yesterday.
=> 21 EMA resistance on the monthly
=> You can draw EW (Elliott Wave) in two ways, one where we already hit the bottom, and the other one, as in the picture (recovery 1 is very steep, recovery 3 is very flat) which would give us new lower lows.
=> We could be building a bearish continuation flag on BTCUSD
=> If the candle closes the way it is at the end of the week, we have ourselves a beautiful reversal doji.
=> I see the support/resistance trendline as a long lasting one which we are going to hit several times from down- and upside and it may be our point of entry one it hits from upside to take it as support again.
Curious about your opinions, looking forward to your comments!
P.s
I'm in the market since July 2017. Left the market in December and January 2017. Love the market and I believe in the technology and a few projects, but lots of them, especially the exchanges are greedy, money washing machineries.
I do always update my friends about the crypto currency market, so let's give Tradingview Posts a shot.
I have some BIG warning signs for you:
Bubble Theory:
Do you really believe we are currently in the phase of a sucker's rally when everyone is shouting "BUY". I'd rather hear my friends ask me "Do you still believe in this sh** market???". Than I buy!
Emotions:
--Last week, friends and family came up to me and asked me how they can invest in Bitcoin, they read that it went to 5000$ and they believe it's going to 100000$.
--> A - Sell the news
--> B - When the crowd buys, sell!
--> C - Think like the big boys, not like the people who work hard for the money day in and day out
Chart:
=> Noone looks at that massive resistance which is coming down aslant from the previous bottom. This old support held for months, means it is HEAVY resistance.
=> The weekly RSI wasn't able to move above the 60 level which means, that we are still holding our bear trend(!). This could lead us into a bearish Monthly RSI which will trigger new lows.
=> TD Sequential hit a perfected 9 in every timeframe and in the 12h the perfection was confirmed with the pump to ~5460 yesterday.
=> 21 EMA resistance on the monthly
=> You can draw EW (Elliott Wave) in two ways, one where we already hit the bottom, and the other one, as in the picture (recovery 1 is very steep, recovery 3 is very flat) which would give us new lower lows.
=> We could be building a bearish continuation flag on BTCUSD
=> If the candle closes the way it is at the end of the week, we have ourselves a beautiful reversal doji.
=> I see the support/resistance trendline as a long lasting one which we are going to hit several times from down- and upside and it may be our point of entry one it hits from upside to take it as support again.
Curious about your opinions, looking forward to your comments!
P.s
I'm in the market since July 2017. Left the market in December and January 2017. Love the market and I believe in the technology and a few projects, but lots of them, especially the exchanges are greedy, money washing machineries.
I do always update my friends about the crypto currency market, so let's give Tradingview Posts a shot.
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