morning o/
i shared this idea in half of the videos i've published over the last year
original post:
there must've been like 30 times where i talked about this exact scenario.
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to be fair though, i was expecting a retracement to about 53k -
but we didn't get it due to an overwhelming amount of weakness in the market.
it's still possible that we still do see 53k, but it's just getting less and less probable.
---
>btc has lost the weekly ichimoku cloud last week (this is the second week we're going to close below it)
the last 4 times this happened in history (and the only 4 times), btc rallied to the downside between 50~85%.
>we're about to lose the monthly 21ema tonight (which sits at 38k)
last 4 times this happened, btc fell to the 55 monthly ema (which currently sits at 24k).
---
my downside target for this correction sits at 23k
How long it takes to get down there is still up for debate.
Nobody truly knows.
---
I've moved to mostly cash, and i will continue to observe the markets for any signs of life in the short term.
Stay tuned for more updates, and have a beautiful week ♥
i shared this idea in half of the videos i've published over the last year
original post:
there must've been like 30 times where i talked about this exact scenario.
---
to be fair though, i was expecting a retracement to about 53k -
but we didn't get it due to an overwhelming amount of weakness in the market.
it's still possible that we still do see 53k, but it's just getting less and less probable.
---
>btc has lost the weekly ichimoku cloud last week (this is the second week we're going to close below it)
the last 4 times this happened in history (and the only 4 times), btc rallied to the downside between 50~85%.
>we're about to lose the monthly 21ema tonight (which sits at 38k)
last 4 times this happened, btc fell to the 55 monthly ema (which currently sits at 24k).
---
my downside target for this correction sits at 23k
How long it takes to get down there is still up for debate.
Nobody truly knows.
---
I've moved to mostly cash, and i will continue to observe the markets for any signs of life in the short term.
Stay tuned for more updates, and have a beautiful week ♥
Note
if the monthly candle closes above 38k (in the next 3 hours 40 minutes)i got a feeling we'll see 53k before the drop comes ;))
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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.
i only share a tiny fragment of my ideas on this platform. to view my daily work, join the lunar syndicate 9 👇
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.