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DROP

The BTC chart nobody wants to see right nowAs a turbo bull myself, im staring at this thinking, how many monthly candles of vertical pump can we expect before it tips over and corrects itself? Honestly. If we look at volume we can see its clearly slowing down, meaning most people are already bought in and hodling and the influx of fresh buyers arent enough to sustain these prices. Most rich people/companies that come in dont buy spot price on your average exchange, they are buying over the counter and are handed btc instead of going through order flow. OBV is also showing lower high's (so far) Lets also hope that the DXY doesnt show a pump trend from this wedge(which usually is inverse correlated to commodities) For this pump to continue we need to see april candle breaking previous high and sustaining it, we need increasing volume coming in from buyers or I actually think this will start to go down abit. Fib target puts us at 29-40k area, where January peak volume is also around that area so its more probable that it should hold. So "worst" case scenario is 30-40k but still bullish bias.
BITFINEX:BTCUSD
by confirmationbias
1
🔥BTC may drops to 28K!!! Everything you need to know 👇Hey everyone At the picture you can see the descending channel of BTC that I'm sure it's accurate. We got many of supports but most of them are not as strong as we need. So we got three support key here which one of them is a very strong static support at 38K and two of them are fan fibonachi level. So the first support that BTC may come back from there is 44K second one that it's very possible for BTC to come back there is a strong resistance and a key level on 38K, but if BTC breaks this level too and keep dropping next key support will be on 28K Don't use leverage put stop loss and BE CAREFULL about bullish traps
Short
by CryptoTitans1
2
BTC dropping but until when?Looking at the 4h chart - price dipped all the way to the point of confluence (POC) and retraced back up leaving behing a long wick that usually says rejection. A new 4hourly candle opened and is now at the point of confluence for the last formation also accompanied by the presence of the yellow ascending trendline. Where do we go next? If we close below this local point, our next stop will be the point of the initial retrace, the POC at 47700. If that breaks we will be supported by the 200 EMA which is now at 43800. And if that too fails to support us we have another support at the 0.61 Fib at 40550.
by SublimeTraders
Sorry My Love, Healthy Correction Is Needed.Firstly, LONG LIVE CRYPTOCURRENCY AND BITCOIN. In the short term, I would be lying if I didn't think this is going to see a healthy correction onto Ichimoku cloud support. This is not technically a rising wedge. I drew a triangle to demonstrate the divergence + unsustainable support curve. I love Bitcoin man, Don't get me wrong with that... BUT I have been around long enough to know when something bearish is in the air. Sorry CryptoTwitter, I know you are very bullish right now, Sorry Elon...... Please be sure to buy the dip so we can all aboard the moon-ship again. Thank you. - Stay profitable - Dalin Anderson
BITSTAMP:BTCUSDShort
by High_Altitude_Investing
36