You know I've been looking at the bitcoine bear since the beginning. With this flood I will tell you about the decline of BTC by TA
First of all, let's start from the beginning.
Price: 20K
1. Signal - Bear Divergence
If the price has risen from 16K to 20K, the indicators are watching down. Inconsistency.
The details are visual.
Price: 11.3K
2. Signal - Price falls below the cloud
This time the BTC continues to bull market 3 times by touching the bottom of the cloud this time, signaling the beginning of the bear market.
The details are visual.
Price: 10K
3. Signal - Price down to 100MA
The BTC, which has already been touched 4 times and continues to be bull market, is going down to 100MA this time, giving the bear market signal 3.
The details are visual.
Price: 8.9K
4. Signal - Price below 100EMA
The BTC, which has already been touched 8 times and continues to bull market, is going down to 100 EMA this time, giving the bear market 4. signal.
The details are visual.
Price: 8.9K
5. Signal - RSI falls below historical support (Historical Support)
This time btc, which has been touching the bull market 7 times before, breaks down the historical support and signals the bear market.
The details are visual.
Price: 8K
6. Signal - Price drops below 50EMA in 3 days
The BTC, which has already been touched 8 times and continues to bull market, signals this bear market 6. by going below 50EMA on the 3-day chart.
The details are visual.
Price: 8.6K - LAST SITUATION
7. Signal - The price drops below the cloud in 3 days.
We see that BTC last made it in the 7th month of 2014-the price drops below the cloud.
The details are visual.
Price: 3K - POSSIBLE CASE
8. Signal - The price drops below the weekly cloud
I think it would be unconventional, but the $ BTC falls under the ichimoku cloud on the weekly chart.
The details are visual.
This flood is about the market. It should not be seen as investment advice. According to the graphics and comments on this flood, it should not be bought. There is always a chance of a mistake.
Into the pictures we made in the detailed narration for our Turkish readers
Thank you.
Hindsight is always 20/20 but it's good to see this clear list ☺️ Just to keep things balanced, werent there also signals that BTC was going to keep climbing up?
For now I think it's a little more time to rise up.
In the coming days I will make more analysis and share.
Thanks for the comment, by the way :)
I like the controversial idea that BTC could go down much further. And without having any knowledge from TA you could be right. The only thing we need is a lot more sales from the Mt Cox wallets and a few times bad news.....
I agree with you