Is Bitcoin going under next week? Quite possibly, here is why..

26 Okt 2024

Well they threw the bitcoin-bone to us retail traders about 2 weeks ago on a Sunday when everything in Crypto was coming alive and turning green on our screens.

I get no pleasure in saying, as I'm invested in Solana, Doge, Bitcoin and others, that things at least for Bitcoin may not be so wonderful going forwards for a little while next week. Perhaps Crypto in general holds up until Bitcoin gets its' sh*t together.

What bothers me is the Daily chart below for BTCUSD. 3 different settings for MACD on higher timeframes are bearish with crossing DOWN signals on the daily chart which is where the momentum-action will catch up and be next week, bearish, I think.

Bitcoin, I said a couple of days ago was struggling on the Daily chart. Intraday does not look good on Monday, my guess is that it starts to sell off this weekend. Put some stop losses on your stuff if you don't have them, trailing stops.

See the daily chart for the loss in momentum to the upside on so many fronts for Bitcoin.

26 Okt 2024

Nota

27 Okt 2024

Dagangan aktif

I had a look at the market structure for bitcoin and despite the stalling price the past 5 or so days I could not detect a bearish change in character of price, something I should've thoroughly checked before now.
Trying to spin traders out of accumulated Crypto positions is perhaps the money-managers/market-makers intensions, prior to Bitcoin price really breaking out is the aim so that they achieve liquidity and 'cap' the capital growth of accumulated crypto positions for retail traders. Liquidity always their aim right.

29 Okt 2024

Dagangan aktif

No, No No, Bitcoin was taking a breather probably to wrong foot a few people including me.
Here is the latest. About to breakout.