LegendGreatman

LegendGreatman Updated 

All resistance levels have now been shattered. Resistance levels would now turn to support levels in the future. But then, this was just massive aggression from the bulls. I jumped out too soon.

LegendGreatman

Now we have finally seen the marubozu break though the resistance level. What next...? Let me take out some profits to make merry. I would be back.

LegendGreatman Updated 

Bitcoin might be breaking the daily resistance at 23,220.5 for a continuation in it's rally. Shorter positioned traders should be aware. There is no confirmation that the daily resistance would hold yet.

LegendGreatman

Exactly what I was expecting. But then price ensured to lick out all of the stop losses of the long positions in order to pick the liquidity it needed for this move. The resistance level has not been broken yet. That daily resistance level carries so much significance at this point in time of BTC.

LegendGreatman

Does this seem to be that bitcoin's accumulation phase is about to be over.....? Are we to expect a breakout soon.....? Well, I personally think the market movers have finished stocking up their warehouses and they are set to sell back to the retail traders which will send the price of bitcoin upwards once again. So until there is a breakout at $40k, my sentiment...

LegendGreatman

So, what are we to expect...? Bearish volume keeps on corresponding with the gradual down trend while bullish volume is not corresponding with the brief uptrend as seen in this chart. Things are about to get messy. Long positions that are open now might get liquidated. Short positions might walk home with some money 😎. We might be heading downwards soon.

LegendGreatman

So, the warning bitcoin sends is gradually playing out and I hope you all took the short position with plenty of profits now to smile home with. On the one day time frame which is not the time frame published here, we see bullish volume dropping and bearish volume gradually picking up. There seems not to be enough demand to breakthrough the 39k to 41k zone. So...

LegendGreatman

I obviously do not have much to say but the chart says it all.

LegendGreatman

Seems like the second bearish leg downwards decided to kick off immediately without hovering around 40k. With regards to the previous published bitcoin chart, we now see how the price of bitcoin fell and it is presently hovering at a weekly demand zone at 35k. I obviously do not expect a long red candle straight down to 28k price zone but a gradual down trend to...

LegendGreatman

So a look at BTC/USDT on the 4H timeframe. An anomaly is being spotted here🚨. We see prices move upwards but is not validated by volume. The upward movement of price is meant to be accompanied by an increase in volume. But what we have here is an upward movement in price with dropping volume which calls for caution ⚠️

LegendGreatman

The price of bitcoin might be on it's way to testing the $37k - $39k price zone. There might be an upward price move from $37k - $39k price levels to $50k.