Bearish Engulfing Tops - Bitcoin is at such a place now

Engulfing candles are an indicator of a trend change when they eclipse not just the previous candle but multiple previous candle bodies. The Bitcoin Weekly chart is in such a position right now. It is extremely likely that this 1W candle will close as a Bearish Engulfing. If 26,600 is reached before this candle closes it will signal an even deeper draw down than I want to imagine. Watch for the pumps on LTF for Short entries. There will be relief rallies, for example 25,300 and around 18,500 if the price reaches those levels. You can also look for Alts which have not taken much of a beating yet and Short those.

The price action will be entering a phase where if you have profit take it or at least take a portion of your profits off the table and lock it in.