BTC (Prj.2019.P03.E12).Next MACRO level move

١٦ أغسطس ٢٠١٩

Looking at the past week, it's obvious the BEARS have dominance and with a 20% drop...it showed how weak hands.
On the WEEKLY CHART, we have had 3 big rejections with LARGE wicks. This is a clear sign where things are, a pause on the bull run.
Hence it will take a lot longer for the bull trend to resume.

The RSI or momentum indicators show for the short term, a likely limited uptrend and as per the chart, where the potential boundaries are.

MACRO LEVEL: BTC remains above the BLUE Moving Average multiple times during the bull run of 2015-2017.
The trend just got tested again and passed. However looking up closely...its getting to a pivotal point...soon. This is what needs to be monitored.



Previous post, a continuation from it.

١٦ أغسطس ٢٠١٩

ملاحظة

Not looking good. Closing below the symmetrical triangle pattern will indicate a downward trend (4 HRLY)

١٦ أغسطس ٢٠١٩

ملاحظة

Trend compromised

١٦ أغسطس ٢٠١٩

ملاحظة

The battle is not finished

١٧ أغسطس ٢٠١٩

ملاحظة

١٧ أغسطس ٢٠١٩

ملاحظة

The weekly perspective. The above is also a bearish formation. As I stated, I'm looking bearish. Looking from a BEARISH perspective, the WEEKLY chart supports this theory. The RSI at the 53% has yet to be touched and the way its going, its headed for it. If it goes below this point, then we will be looking at a complete different scenario for the year.

١٧ أغسطس ٢٠١٩

ملاحظة

١٧ أغسطس ٢٠١٩

ملاحظة

At the micro level, looking for bearish divergence,

١٨ أغسطس ٢٠١٩

ملاحظة

Micro level...still bearish...many obstacles. 1 HRLY Chart.

١٨ أغسطس ٢٠١٩

ملاحظة

MACRO level -- pivotal point. Not a good time to go in.

١٨ أغسطس ٢٠١٩

ملاحظة

RSI reflecting the same sentiment. 3 Day chart

١٨ أغسطس ٢٠١٩

ملاحظة

Some confirmations at the Micro level.

١٩ أغسطس ٢٠١٩

ملاحظة

It happened quicker than I thought