Good morning guys
Lets go into it
Everyday its getting clear and clear, BTC is dropping
- Now we got this Alts having a healthy upward trend, so it's time to Bitcoin to rest a lil bit
- We got news too (like I spotted yesterday) that BTC is suffering from low volatility
- And, we got OUR Tecnical analysis saying so
Everybody've been waiting for this altseason and now that it's here they start to realise that it will take Bitcoin power and BTC market in order to get the results. If you have been here for a good time you knew that already.
It's a balance of power
So, if you are interested in an altcoin NOW is the time to buy in
With that being said lets take a look at the charts
Lets pullup this fibonacci retracement so you can see clearly what I'm talking about
It fits so perfect that it's almost unbelievable, it's not the first time, so you better believe it
We already got a retracement of 0.23 and 0.38 and BTC STILL trading below those levels and due the magnitude of the pattern we can expect a 76% retracement (the blue zone) leading BTC to drops till 6000$
That was the analysis... now if you want to trade that keep reading
This where we curently are, if we follow the steps we SHOULD be already shorting the market BUT... there is a big but, BTC is most likely to make a false breakout upwards and make traders think it will go up and all of the sudden price will drop drastically
We got that batman, crab or butterfly pattern down there (whatever you want to call it), so price going up first means that it would develop the perfect bearish tradeable pattern
And that's the reason why I'm not already in, my stop loss would be triggered.
So for all my swing traders out there that dont want to wait this would be the play.
//Bear in mind... Stop Loss is at 11150$ (IF) BTC keeps going up, closes up and keep trading above that level that would invalidate the bearish scenario, if that happens make a long and wait to the moon//
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