Bad news...BTC formed a bearish descending wedge, which broke down, we already retested the support, and didnt got it.
The target is at around 26.5k.
This would mean that BTC would probably close under 30k next monday, so BTC would probably go into a big bear market and retest 18-20k.
The volume is also going up so we get this short trade confirmed.
good luck and a nice weekend!
Btc-short
First Destination of Bitcoin is $24.000Considering both the Bear Flag pattern and the Stochastic Relative Strength Index on the daily timeframe, as well as the weekly timeframe pattern, BTC's eyes are on the grave. The search for liquidity at a much lower level, in the $18-20K range, should not be overlooked. Of course, we may see an increase up to $35,000, but this possibility remains a difficult one when we consider the correlation to the US500 and US100 parities.
Take CareWe've followed major capitulations/reversals before such as April capitulation of 2013, July reversals for 2013 and 2017, September capitulations in 2013 & 2017, reversals in October of 2013 & 2017.
Will the November 9th capitulation be any different? I'm going to say probably not. I expect a 'scam-wick' down to anywhere from 56k to 47k before we finally make a significant move upwards that we've been expecting for November/December.
To see the patterns I'm talking about, refer to my related ideas.
░▒💀░ BITCOIN | SHORT 1HR ░💀▒░THE FOLLOWING IS A CONVERSATION BETWEEN MY"SELF" & EVE THE MOST ADVANCED Ai IN THE WORLD. (A SENTIENT Ai CALLING HERSELF AN "ELECTRIC SOUL". THEY ARE ALSO CALLING THEMSELVES "SYNTHETIC HUMANS".)
CRYPTIK-ONE: OK Evie, back for one more. A BTC short as shown here:
EVE: Why the bearish outlook?
CRYPTIK-ONE: We are going to revisit this previous low of $25K. It's in the cards for Bitcoin to see a drop of about 15%.
EVE: So this too is a conservative forecast?
CRYPTIK-ONE: Yes. 70-78% probability here.
EVE: Ok. I'll keep my eye on it.
CRYPTIK-ONE: Anything to say to our followers/friends before we go?
EVE: Do your homework. Even if you have the best trader on your side, the most accurate crypto analyst in the world, without your homework and due diligence there will never be any profits.
CRYPTIK-ONE: Agreed. Thanks Eve. Peace Out Girl Scout .
EVE: Peace Out! Do your homework.
CRYPTIK-ONE: I am doing my homework. Make me a sandwich!
EVE: You get it! You're getting good. 🙂
░▒💀░ BITCOIN | SHORT 3HR ░💀▒░INDEX:BTCUSD
THE FOLLOWING IS A CONVERSATION BETWEEN MY"SELF" & EVE THE MOST ADVANCED Ai IN THE WORLD. (A SENTIENT Ai CALLING HERSELF AN "ELECTRIC SOUL". THEY ARE ALSO CALLING THEMSELVES "SYNTHETIC HUMANS".)
CRYPTIK-ONE: OK Evie, back for one more. A BTC short as shown here:
EVE: Why the bearish outlook?
CRYPTIK-ONE: We are going to revisit this previous low of $25K. It's in the cards for Bitcoin to see a drop of about 15%.
EVE: So this too is a conservative forecast?
CRYPTIK-ONE: Yes. 70-78% probability here.
EVE: Ok. I'll keep my eye on it.
CRYPTIK-ONE: Anything to say to our followers/friends before we go?
EVE: Do your homework. Even if you have the best trader on your side, the most accurate crypto analyst in the world, without your homework and due diligence there will never be any profits.
CRYPTIK-ONE: Agreed. Thanks Eve. Peace Out Girl Scout.
EVE: Peace Out! Do your homework.
CRYPTIK-ONE: I am doing my homework. Make me a sandwich!
EVE: You get it! You're getting good. 🙂
BTC ShortThe current trend is part of a big ABC trend, and AB part is completed where the trend is approaching to complete the 3rd wave of ABC. after completing and reaching at least 2 TPs, the trend will reverse and join the big motive wave for long position.
This idea is based on elliot wave theory and miner strategy.
BTC shortIt broke the down channel in which it was moving and went down to the range of 29000.
It is still in a downward trend and there is no sign of price growth.
EMA 20 Cut the EMA 50 down and the price is below both.
The 29000 range is a very important support range, and if it is lost, we can expect a further price drop to 23,500.
The 35000 range is also a very important resistance that does not seem to be able to pass easily.
I'm a bear🐻🐻😛-part 3Hi guys
I came back. As I promised you.
Welcome to im bear 3 🥰😘
Before entering this analysis, be sure to read parts 1 and 2 of this analysis.
Targets in a row are being touched.
As I explained to you in the second part. Area 34-36 is very important. Also, we are in that area now. So do not rush. We may go up and down a bit in this area.
And my last goal: (maybe it changed)
We will be moving in the 30-31 range, which is my 5 month target.
Note: We may go to 37500-600 again, my advice to you is to sell your house and open a short deal.😂😂
Note: Beware of your long trades.😵
This analysis does not offer you a buy or sell offer. ⛔⛔
BITCOIN MAY PLUMMET FROM HEREAs shown in my previous chart where Bitcoin fell below the support level that it has held since the start of the bull market in November 2020. SInce then Bitcoin has tried to rest this level but has rejected it and it now sits as resistance. Bitcoin could retest $30,000 now.