Hey guys it's your favorite underrated moon boy, back with some minimal TA and basic concepts. I was so ready to buy at 10k now it has arrived I've changed my view. As you can see we have a double top on the weekly with a huge bearish divergence on the RSI. MACD is beginning a reversal, volume is low. It looks bad. I will be watching 9.4 closely but if it breaks we could have more downside for weeks, maybe months to come. I am overall bullish with BTC but it seems like profits may being used as a hedge for stock markets. I won't get into who I suspect created Bitcoin at this moment in time, but if my theory is correct, we could see more downside as we draw closer to an economic downturn. Eventually we will boost again. I think it's highly probable we reach levels below 8k first. Maybe then we can go straight to 16k , who knows. If you read this please leave a thumbs up or comment your bullish case! I'm open to all ideas! Thanks!
Trade closed: target reached:
Bitcoin showing bullish reversal signs. Rebought BTC 9800-9900. Could have shorted this twice by now. Unfortunately I didn't get the buy last night because of bad timing. Hope you made money by following this post. Switching to long for now, lets see what happens. Will post a follow up if I get 10 likes!
Trade closed manually
Comment:
Trade active:
Target seems to have fell short for the long. Sitting out to see if I can get a lower entry.