hi guys. such a sad day. total disaster came as i have wrote a day before this fall.
now, i hope you guys are not buying this at the moment. big bearish engulfing candle.
can it reverse from here to 10k? no..
as you see, price got stuck in a very timid and tight range. 8700/8800 is 3D cloud bottom resistance, which, btc has never penetrated this thick cloud upwards before.
and, 200MA daily at 8300 is short support.
see, btc needs room to make reversal. but, this tight range will never make btc reverse. maybe, a wick candle above 8800 to even 9000. but that is it. more likely 8700/8800 is the top now.
it confirms death now. whales are smart. they choose to bring this down under the clouds. they chose the best safe way to control the market. that is, make an impossible resistance for bulls to
overcome. and they succeeded. 3D cloud is the most hard resistance, and support in BTC history. that is why, i asserted so many times with this. when it was supported by the clouds i was hoping long.
but i told you guys, when 10150 was broken, to 9800 zone, price broke into the clouds which reversed the whole situation.
now you guys should know i long btc a lot, my calls were mostly longs. but now, i have to admit btc died.
i am a cloud guy. that means, i trade many of my trades with ichimoku, which perfectly works out.
now, this thing should reverse from 5k, since many buyers stepped in there. this region is however, capped inside the weekly cloud.
that means btc in next months should reverse from around 6k at lowest. if price becomes capped inside the cloud, this
becomes horrible. i do not know how whales would bring magic under this circumstances. this is truly shitty.
we all want btc to bull run, but monthly candle is the worst in years.
as you see it is even worse then 2018. black crow pattern, bearish tweezers which need a fat hammer now. yes, a hammer,
and i do not think that hammer would do so much for long term.
so at this point we all question. what about halving?
that is big question i have too. only thing is that, btc choose to make this a ugly game. this would go for at least 4~5month now.
so for now, short this. there is no way but shorting this to earn at least some amount of money.
i shorted this from 10050. took profit, got in back 8700. there is absolutely no way now. hate to short, but no way out currently.
so trade safe.
next stop will be low. because if 200 daily ma breaks, closes under 8300 in coming days, or weeks, it will drop at least for 3days,
or even a week. that means we have to visit at least 7400/7200 zone. probably get broken, and go down further.
so trade safe in this ugly mess.
تعليق
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confirmed breakdown of 200MA. price movement from now will be very volatile with ups and downs but basically in downtrend.
My post a few days ago with price levels. So far, so good. Sad to see it fall but necessary movement of the market. Bull runs don’t come till after halving btw.
rafa1239
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@HRoark64, I'm thhinking about buying next week. Would you wait a bit more if you were me ?
HRoark64
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@rafa1239, depends on your goals and time preference so that’s hard to say. Any price under 20k will look like a steal if you’re in the market for 1-2 years. Look at a monthly log chart and mark the halving dates and you’ll see what I mean. If you’re trading for income or to grow an account I recommend you let price get back on top of a longer moving average (I use the 50 day) and confirmation with a momentum indicator. Check out my early ideas for a tutorial on my method and feel free to PM me with questions.
As I mentioned in my video. That stochastic RSI in the Monthly is going to bounce back up off the 80% level during the month of October in my opinion. Also, his Monthly "cloud" is about to change from Red to Green and turn back up in my opinion.