On the above 2-week chart price action has appreciated 1600% since the life cross back in September 2009. A number of reasons now exist to be short, including:
1) A sell signal has printed (shown on 4 month chart below).
2) Confirmed regular bearish divergence.
3) The ‘pi-cycle’ market cycle top alert has trigged, indicating an end to this cycle.
4) The 4-month chart prints a significant bearish engulfing candle.
5) The last time a death cross printed on the 2-week chart price action corrected 75%. The would take price action to 75, which was the previous market top in 2000
Is it possible price action falls further? For sure.
Is it probable? No.
A short from 250 is excellent.
Ww
Type: trade
Risk: n/a
Duration: 2 years
Return: n/a
4 month chart
1) A sell signal has printed (shown on 4 month chart below).
2) Confirmed regular bearish divergence.
3) The ‘pi-cycle’ market cycle top alert has trigged, indicating an end to this cycle.
4) The 4-month chart prints a significant bearish engulfing candle.
5) The last time a death cross printed on the 2-week chart price action corrected 75%. The would take price action to 75, which was the previous market top in 2000
Is it possible price action falls further? For sure.
Is it probable? No.
A short from 250 is excellent.
Ww
Type: trade
Risk: n/a
Duration: 2 years
Return: n/a
4 month chart
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.