This may be more obvious to some, less to others, but trend has a lot to do with strength and maintaining that strength has a lot to do with keeping a trend going.
There are lots of very interesting aspects in the way BTC trends, too much that I have time for here but I will say that after such an explosive bull rally from September 2020, the domed top that followed was significantly weak compared to the very strong bull rally and in isolation, without any other tools it really showed the bull rally was over.
And why not plug a thread I made back then. This is one reason how I knew this rally was over for a year now.
Anyhow strength, weakness and how the 2 are patched together are very important for identifying the dominant trend.
And its very simple just looking at the candles - In the bull rally there were 13 candles before a significant bearish candle printed on the weekly, and now look at the recent bottom and BTC only printed 2 bullish candles before a very bearish star candle printed.
And some may think that this is ok and its part of a continuation pattern - BTC is just taking a breather before the next leg up?
Well no I dont think so. I would say this is analogous to an arm wrestle where over a long period of time the bullsih impetus is weakening until where price is now. And I think here BTC will likely drift sideways here to form a bear flag - not immediately submitting to the downside but the inevitable is coming as bearish strength is increasing.
Not advice.
There are lots of very interesting aspects in the way BTC trends, too much that I have time for here but I will say that after such an explosive bull rally from September 2020, the domed top that followed was significantly weak compared to the very strong bull rally and in isolation, without any other tools it really showed the bull rally was over.
And why not plug a thread I made back then. This is one reason how I knew this rally was over for a year now.
Anyhow strength, weakness and how the 2 are patched together are very important for identifying the dominant trend.
And its very simple just looking at the candles - In the bull rally there were 13 candles before a significant bearish candle printed on the weekly, and now look at the recent bottom and BTC only printed 2 bullish candles before a very bearish star candle printed.
And some may think that this is ok and its part of a continuation pattern - BTC is just taking a breather before the next leg up?
Well no I dont think so. I would say this is analogous to an arm wrestle where over a long period of time the bullsih impetus is weakening until where price is now. And I think here BTC will likely drift sideways here to form a bear flag - not immediately submitting to the downside but the inevitable is coming as bearish strength is increasing.
Not advice.
Komen:
Very bearish index open -g ood chance that will be reflected in crypto.
Next video Saturday 22 June😼.
Hodlers assume an obvious next wave up but will there be a sting in the tail💀.
Deep analysis - I keep the juicy details for my clients.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35
Hodlers assume an obvious next wave up but will there be a sting in the tail💀.
Deep analysis - I keep the juicy details for my clients.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35
