BTC a clear SHORT watch out for Ze trap
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Without going into massive detail, I again like the chart to speak for itself.
This is a clear short for me, we see two rejections from the previous swing high at approx 10k back in July of 2019, as depicted by the bearish trend line.
I want to make this clear, that is we break $9,460-500 then this would essentially break a 12 month bearish trend line, and would turn bullish in sentiment, with major and I mean major uptrend. But just because we are hovering as of time of writing this around the 8.8-9.1 range, does now mean we are accumalating.
Please, look at the moving averages, look at the daily, see how it topped out on a td 8 count and was rejected from where? Yes, the bearish trend line from the 12 month old SWING HIGH.
200 daily MA is around $8,090 - So make you're own mind up. I have circled two targets.
Good luck
This is a clear short for me, we see two rejections from the previous swing high at approx 10k back in July of 2019, as depicted by the bearish trend line.
I want to make this clear, that is we break $9,460-500 then this would essentially break a 12 month bearish trend line, and would turn bullish in sentiment, with major and I mean major uptrend. But just because we are hovering as of time of writing this around the 8.8-9.1 range, does now mean we are accumalating.
Please, look at the moving averages, look at the daily, see how it topped out on a td 8 count and was rejected from where? Yes, the bearish trend line from the 12 month old SWING HIGH.
200 daily MA is around $8,090 - So make you're own mind up. I have circled two targets.
Good luck
Uwaga
As we can see when we zoom in, and apologies as the trend line was slightly out, but we have been rejected three times on h4 with the last few days, and also back to the previous high, and that is a total of 4 rejections.Now there is another trend line to be aware of, and that is from the ATH, and that crosses over the current trend line i have now, and creates a divergaance range between 9.5 and 11.5
Again, i am still bear due to rejection and many other indicators however; if we do break that trend line, then that is the price range to be aiming within.
As of now, we are following a slightly bearish sentiment but this is either capitulation or consolidation, i believer this is capitulation and we will see JUDAS candles.
Good luck
Uwaga
Chart is still in play boys, dead cat bounce/liq hunt caught people breaking that bearish trend line however; suffice to say, we are still aiming for targets indicated
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