BTC is going to drop before it tops

28 May 2020

Look at the ribbon, every time the longer EMAs (55-40 , red- orange) is on the top we take a drop before coming back up. We are also towards the end of a Bart so a drop would be expected, it may re test 9300 but it will not break 9300 without a drop to 8800-9000 before hand, as this will make a lot bears close there shorts and go long till we break 9300 as most of them know if they break it we will get an even bigger drop 6-8k which can then propel BTC upwards of 11k.

This is a very simple analysis but it is effective as a confirmation along side other info. Im not covering the extra info but theres lots of ideas here with the general guides (ABC wave, right now the C is about to go down).


just a warning if you follow this advice, im not a pro, i just a guy who likes numbers and charts.