I know I know the bitcoin bubble has popped. I’m not convinced, at least not yet. Sentiment IMO is the lowest we have seen since the $6k bottom which was pretty bad. Is the crowd right? It's possible but I don't think so. The price is definitely at a pivotal point...if these levels of support do not hold the outlook for the coming year does start to look ominous, yet why assume they will not? Is the the time to be buying or selling? Want to short into strong support? Go for it.
TA: First things first, we had the inverse head and shoulder(ish) pattern that everyone and their mother was watching and then it failed which is not so surprising (as everyone was watching it lol). And now because it failed we have tested the bulls patience everyone is sure that this was the great bull trap of 2018 and we are in for a long bear market. The culmination of this double fake out has now morphed the price action into what looks like a clear bullish ascending triangle to me (which if broken to the upside should at least test ATH's). *If that happens it opens up possibilities for some type of ascending triangle inception LOL...but take it one step at a time.
Can I be wrong and all support will break? Of course, be careful out there (I think we would need some type of catalyst but who knows panic is unpredictable).
Good luck and most importantly have fun!!
TA: First things first, we had the inverse head and shoulder(ish) pattern that everyone and their mother was watching and then it failed which is not so surprising (as everyone was watching it lol). And now because it failed we have tested the bulls patience everyone is sure that this was the great bull trap of 2018 and we are in for a long bear market. The culmination of this double fake out has now morphed the price action into what looks like a clear bullish ascending triangle to me (which if broken to the upside should at least test ATH's). *If that happens it opens up possibilities for some type of ascending triangle inception LOL...but take it one step at a time.
Can I be wrong and all support will break? Of course, be careful out there (I think we would need some type of catalyst but who knows panic is unpredictable).
Good luck and most importantly have fun!!
Nota
Price clearly respecting support (bullish reversal candle yesterday and a retest of 9k was successful at least for now. I count 8 different times the price action has told us overhead resistance is a very important level to watch, a daly close above should very likely lead to an ATH test. Nota
Hidden bullish divergence on Stoch RSI:Nota
Broke the "ramen line" lol...daily hasn't closed but looks like its about to get rekt. Oh well, here's the bear scenario:
Possible its just one last shake out but the way this candle is shaping up...seems like the bear scenario is coming.
Nota
Ain't nothin gonna save this daily candle folks...looks like the ramen is real lol.
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