Home Bitcoin News Bitcoin Scam Bitcoin: History Repeats Itself. For BITSTAMP:BTCUSD By RomanXIV

Bitcoin: History Repeats Itself. For BITSTAMP:BTCUSD By RomanXIV

3 min read
Comments Off on Bitcoin: History Repeats Itself. For BITSTAMP:BTCUSD By RomanXIV
7

Hi there everybody,

Fast submit for tonight. That is onerous to say however I imagine Bitcoin is about to drop. Historical past is exhibiting a transparent repetition of itself inside this chart. Listed below are the technicals:

1. Damaging RSI and MACD: Damaging RSI and MACD equate to a weak point in pattern. When worth goes up and MACD / RSI aren’t correlating, it alerts exhaustion.

2. Ascending Wedge: there are 2 clear ascending wedges on this chart and that sample is bearish . Breaking under it confirms a bear motion following.

3. Damaged uptrend + retest: The uptrend has been damaged (implying a brand new pattern forming) and retested, which confirms that the previous pattern is not any extra.

4. Bearish Worth motion: this present worth motion is volume taking place as worth goes up. That means a bear worth motion construction or present pattern exhaustion ( bullish exhaustion).

5. We aren’t actually in a bull market till all time highs have been examined and damaged. – This needs to be apparent.

6. Weekly HS neckline at 50k has been retested: this confirms the bearish head and shoulders sample.

I do know this isn’t the submit you need however it’s the submit you want to a minimum of give some thought to. I made one thing related again when bitcoin was between 50-65k. Look what occurred. Defend your income, make the most of threat administration, and please cease listening to the loopy overly bullish individuals on crypto twitter and youtube. They earn cash while you get liquidated on trades. Discover the excessive quantity of rip-off wicks lately.

As all the time, be affected person, use threat administration, and good luck buying and selling.

Most Associated Hyperlinks :
todayuknews Governmental News Finance News

Source link


Source link

Comments are closed.

Check Also

This week’s top ASX share versus top altcoin winner revealed

Picture supply: Getty Photos The All Ordinaries Index (ASX: XAO) is deep within the crimso…