A good indicator you can use to find tops and bottoms is momentum. Watch the chart if you see that the oscillator crosses into the red area we most likely formed a top. I usually wait for the cross then a small pullback to place my sell. So for now let the bulls do their thing. As soon as momentum crosses the line and goes into the red zone I'll make an update...
Break the blue horizontal line and bulls win. Otherwise down we go.
I have one problem with BTC: yesterday at about 7350 we had good news "G20" and BTC rose from the dead, except it didn't. From yesterday to today only retail volume bought the news while institutional money was still bearish. Momentum suggests that bulls have been flushed out and a reversal is imminent. In other words bulls need a real influx of money to keep...
Big move down seems to be incoming too much resistance.
I'll do an update later today I'm just waiting for the close. Another thing to keep in mind in the G20 meeting where cryptocurrencies will be discussed. Seems like most support blockchain innovation.
Cyclical support formed at 7665 so daily needs to close below this on Sunday else bulls are coming in. We can easily continue heading towards 7.2K if we stay below this number on the CLOSE.
I'm still bearish on BTC but from what I could see if we don't go down to about 7300 by Sunday night the daily chart is most likely going to form support and bulls are going to like it.
Sell now ~8.5K. Some people are expecting news on Monday from China and indicators 1-4hr are overbought.
BTC could be heading to 7K with enough momentum. Currently 8.2 bulls are getting tired and within hours the previous 7.7K low will most likely be crushed. I will admit that the daily look oversold but based on a slightly higher time frame we could drop a whole lot more.
These bulls are not even showing up. Price is just consolidating and bears should make another push.
We are not done going down yet. Don't trust these pullbacks.
Hold on tight.
Even though we're about 8500, we can still drop BIG. Stay out for now.
Rough prediction of what BTC is about to pull off starting VERY soon.
$7000 BTC isn't out of the question in the next few days. Use stop losses if you are still trading.
I'm still bearish and nothing has changed. I suggested you all went tether or cash "even better" @9568 on a possibility that we go down sharply. I would probably stay away from BTC and alts for the next 2 days. We're are very close to defining what direction the monthly candle is going to take and it's possibly a big move. If we take a big dive it's going to...
I signaled to tether at 9568 on my other profile "marklmorales". Monthly chart looks like it could push down a lot more. The 4hr told me to sell at 9568 and go tether. Yes I'm bearish but I'm almost certain that next month starts a green trend unless we get a large influx of new money now.