Bearish things
I hope you're all having a wonderful Tuesday, here's what I'm seeing in the charts right now..
- Bullish momentum has slowed considerably since last week
- Price action does appear to be forming a descending triangle, a BEARISH REVERSAL PATTERN
- A move up to 57.5K is expected before resuming formation of the bearish pattern
- Measured move of a break below support would take bitcoin under
46K
- Should bitcoin get a bounce at this level, it would make for a beautiful double bottom on mid timeframes setting the stage for new ATH's in April.
Open interest climbing again... BTC CME Futures are looking pretty bearish.
10yr Yields fall again today -DXY looking more bullish every day this week - SPX looking incredibly bearish, I expect a decent correction tomorrow and/or Thursday.
BTC has been strongly correlated to the performance of the SPX, should we see a severe correction tomorrow -I would expect BTC to drop as well.
This pullback is setting up for an incredible opportunity -possibly the LAST time bitcoin will see sub 50K prices.. (stress on word "possibly")
Cheers.
JNY
3candlecollective
- Bullish momentum has slowed considerably since last week
- Price action does appear to be forming a descending triangle, a BEARISH REVERSAL PATTERN
- A move up to 57.5K is expected before resuming formation of the bearish pattern
- Measured move of a break below support would take bitcoin under
46K- Should bitcoin get a bounce at this level, it would make for a beautiful double bottom on mid timeframes setting the stage for new ATH's in April.
Open interest climbing again... BTC CME Futures are looking pretty bearish.
10yr Yields fall again today -DXY looking more bullish every day this week - SPX looking incredibly bearish, I expect a decent correction tomorrow and/or Thursday.
BTC has been strongly correlated to the performance of the SPX, should we see a severe correction tomorrow -I would expect BTC to drop as well.
This pullback is setting up for an incredible opportunity -possibly the LAST time bitcoin will see sub 50K prices.. (stress on word "possibly")
Cheers.
JNY
3candlecollective
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.