Bitcoin: Warning, Market possibly about to capitulate soon
تم تحديثه
Hi,
Nothing changed since my last TA.
The descending triangle could lead to a continuation of the downtrend, as it is a huge triangle and a continuation pattern.
IF Bitcoin closes below its structure line of life arount 5.700$, then the time for a capitulation sell-off is to be foreseen.
If Bitcoin stays above 5.700$, then you can scream all good, this was a Market correction and not a crash, and you can expect a retest of 20.000$.
If you are new to markets, my advice is that you should be really carefull, especially with the number of public persons, and even persons here screaming Bitcoin bottomed, and that all is bullish, and that the bull run has started.
I even see here the same "traders" creating new TAs every day or every two days stating Bitcoin is in a bullrun, and that it is going to the "moon", in full Caps lock. They might soon gonna spam my wall with their over bullish TAs, who knows.
You would be very naïve thinking these people post very bullish TAs every day for innocent reasons.
If you want to know the real state and the real inside news of Bitcoin, then the news IS the chart. The news is the Bitcoin pattern. Look at the structure, Bitcoin is talking to you, it is telling you how it is and feels.
And it still clearly looks unhealthy right now, so beware.
New lows is still the most probable scenario, nothing has changed.
It could also remain strong and stay above 5.700$, everything is possible with crypto.
But right now, the pattern is screaming a collective "Ok i give up with this market, every time it raises and that i buy, it ends up crashing and i lose money". Which is not far from beeing a capitulation.
Watch for the 5.700$ level and a close above or below.
Nothing changed since my last TA.
The descending triangle could lead to a continuation of the downtrend, as it is a huge triangle and a continuation pattern.
IF Bitcoin closes below its structure line of life arount 5.700$, then the time for a capitulation sell-off is to be foreseen.
If Bitcoin stays above 5.700$, then you can scream all good, this was a Market correction and not a crash, and you can expect a retest of 20.000$.
If you are new to markets, my advice is that you should be really carefull, especially with the number of public persons, and even persons here screaming Bitcoin bottomed, and that all is bullish, and that the bull run has started.
I even see here the same "traders" creating new TAs every day or every two days stating Bitcoin is in a bullrun, and that it is going to the "moon", in full Caps lock. They might soon gonna spam my wall with their over bullish TAs, who knows.
You would be very naïve thinking these people post very bullish TAs every day for innocent reasons.
If you want to know the real state and the real inside news of Bitcoin, then the news IS the chart. The news is the Bitcoin pattern. Look at the structure, Bitcoin is talking to you, it is telling you how it is and feels.
And it still clearly looks unhealthy right now, so beware.
New lows is still the most probable scenario, nothing has changed.
It could also remain strong and stay above 5.700$, everything is possible with crypto.
But right now, the pattern is screaming a collective "Ok i give up with this market, every time it raises and that i buy, it ends up crashing and i lose money". Which is not far from beeing a capitulation.
Watch for the 5.700$ level and a close above or below.
تعليق
Last update for this TA, as there is no need to update Bitcoin analysis right now.Do not pay attention to the Twitter fake news you will read.
For exemple since a few days, "crypto articles" are spamming that Bitcoin is soaring in Iran.
Wrong: image.noelshack.com/fichiers/2018/36/4/1536268073-btc-irr-chart-1y-currencyconvert-online.jpg
Bitcoin is soaring in Venezuela : image.noelshack.com/fichiers/2018/36/4/1536268270-btc-vef-chart-1y-currencyconvert-online.jpg
Stay safe.
تعليق
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