Trading Journey (Bitcoin price is dropping)


Good morning guys

Lets start with it

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First thing first

From a a tecnical perspective BTC is falling, BTC is going to 6000$ we have to admit that

Lets see the facts

  • EMAs: 50, 100 and 200 are showing signs of weakness, BTC is bouncing back from them and if we pay attention when BTC hits the 200 EMA we ALREADY deep in the downtrend
  • Second, volume: look at the volume down there, no explanation needed
  • Ichimoku, no explanation needed, ichimoku clouds save you from doing stupid trades
  • Chartism, if we apply classic chartism we can see clearly a descending triangle
  • PATTERN, this one is crucial, yes we can argue that it may not be really a descending triangle, that BTC EMA's bounces are not a sign of weakness but...

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ok... so what to expect from here?

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We can expect a false breakout upwards first, then a huge drop from it.

This what comes from a tecnical point of view... if we pay attention to fundamentals and macro in general, Bitcoin is bullish in general, so this analysis could be affected if something huge happens these days, if not... We already know what to do


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