So is Bearish sentiment is taking over prices? Why we are not making new highs? China is selling Off? Whatever?
Well.... my previous Weekly and Daily published timeframes show that levels are the way to go in a uncertain market as the one we are experiencing at the present time and my opinion is that FUD will bring in the right hands price action where it is being driven. This weakness we are assisting is due to long position being placed to flat.
Observing a 4Hr timeframe my personal opinion is that we will be in a true bear 4hr timeframe cycle if BTC violates 3542 level below the cloud where instead as now it is acting as a support 3687 with a positive Kumo!
Indicators show a steady bearish momentum that still has road ahead only above 4001 level BTC Will return bullish where bear stops will begin to trigger!
تعليق
⋅
BTW...in otherwords.... this is a Distribution period where as erroneously many traders tend to see BIG BEAR SEASON>>>>>
تعليق
⋅
just a heads up... level 3542 has been poked on the 4hr...momentum indicator showing divergence on the last 3 candles... critical area for this cycle to begin a bearish scenario!
just a heads up... level 3542 has been poked on the 4hr...momentum indicator showing divergence on the last 3 candles... critical area for this cycle to begin a bearish scenario!
MiloszKaszynski
⋅
Well, nice to see one positive analysis in tons of bearish one ;)
EdFib3
⋅
@MiloszKaszynski, This is the reality... the levels where price action is unfolding and the position compare to the Kumo... we all know Bitcoin personality it could in 24 hr be on new highs... I can also see lows in the 2200 zone but it must structure itself for it to happen and it has not happened yet...
just a heads up... level 3542 has been poked on the 4hr...momentum indicator showing divergence on the last 3 candles... critical area for this cycle to begin a bearish scenario!