Hello and welcome to my Ichimoku Bitcoin Analysis! In these last 2 weeks I have committed the great mistake of not paying attention to the 2 days timeframe. That tf is the one leading the path of Bitcoin so far, and it keep will doing it for around 2 more weeks. In my last post I said that around 9460 I will forget any bear idea and I will go heavy loaded in Bitcoin, and I did it, but after the drop, retest of the last high and a further drop, I just realised that another scenario could be happening, so I closed my position again. Almost every trader here was yelling ¨We have breakout!" a few days ago, but in fact if you draw the log line ignoring the wicks, you will get to the conclusion that we haven´t break the log line yet. It was fun to see how all the alts just stopped growing a few hours before Bitcoin went to his last high at 7030, know why? Simple, whales did sell off to load their shorts in Bitcoin, so it is a set up plan that will be repeating itself over and over again.
Why we just had that huge drop in a matter of an hour? We have touched an important 0.618 level and also the kumo is giving just today its first bear signal. All of us knew that a correction was coming sooner than later, so here we are, droping for aprox 2 more weeks.
Will this fall drag the alts? Most probably, so be ready to go heavy in the alts of your preference in the next bounce, because is gonna be mad.
My theory fails and we go back high? Then the price will start looking to retest the big resistance at 11766. I´ll protect my short position with a buy order at 9900.
Btw, today we had the first real breakout in the 5 min chart since 2 days ago!
Good luck!
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Why we just had that huge drop in a matter of an hour? We have touched an important 0.618 level and also the kumo is giving just today its first bear signal. All of us knew that a correction was coming sooner than later, so here we are, droping for aprox 2 more weeks.
Will this fall drag the alts? Most probably, so be ready to go heavy in the alts of your preference in the next bounce, because is gonna be mad.
My theory fails and we go back high? Then the price will start looking to retest the big resistance at 11766. I´ll protect my short position with a buy order at 9900.
Btw, today we had the first real breakout in the 5 min chart since 2 days ago!
Good luck!
····· If you find this report interesting please thumbs up and follow me ······
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I expect the price boucing around the last high and 9110 for 2 more days, then big drop.
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Oh yeah, beautiful flag pole with a nice pennant with room for one more drop!
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The price respecting resistance at 15 min timeframe and there we go!
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This is a gorgeous shooting star candle in the 1 hour chart.
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Ok we are officially in a trend reversal far rather than a simple correction. I guess I may be the only one in TA who guessed the trend changed.
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We have made a nice 1 hour kumo breakout!
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Take care guys when buying the dip. We are far from being done, and in the current situation, just experienced scalper can get money from this market.
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Many ¨traders¨ here calling this fall a whale manipulation...very easy to blame the whales when their TA fails. This is pure TA action, nothing else.
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Fast your seat belt, tomorrow´s candle is coming hot!!
