On the above weekly chart price has enjoyed a massive 3000% rally. A number of reasons now exist to be bearish. They include:
1) Broken market structure, failed support.
2) Trend reversal.
3) High negative divergence. Almost as strong as the positive divergence the rally began with.
4) The target areas for support include 60% and 80% correction to $8 and $5, respectively.
5) This should take about 1 year to play out.
Is it possible price action continues printing higher lows? Sure.
Is it probable? No.
Ww
1) Broken market structure, failed support.
2) Trend reversal.
3) High negative divergence. Almost as strong as the positive divergence the rally began with.
4) The target areas for support include 60% and 80% correction to $8 and $5, respectively.
5) This should take about 1 year to play out.
Is it possible price action continues printing higher lows? Sure.
Is it probable? No.
Ww
Trade active
Nothing has changed that would void this idea. A few message asking.
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.