Shorts have made an ATH on Sunday, 1st of April. Longs remained fairly unchanged. It is worthy to...
The summary of the data collected:
1. Bitcoin is correcting the advancement of 6 years;
2. Price remains below log downtrend line;
3. 8EMA - support line for 2 years on 1M chart - is broken;
4. 1M - Genesis 0.618 Fib Support level is broken;
5. Shorts peaked and established an ATH on Sunday, 1st of April. Longs are losing interest;
6. 1W had the lowest closing price print in 2018;
7. 7.8K Triple Resistance (8EMA 1M, 0.618 Fib 1M, 0.5 FIB 1D);
8. Death Cross; Below 200 MA 1D;
9. Unsuccessful attempts to bounce from 1W 50MA and create a 'higher high' on 1D despite a bullish divergence.
10. Last time BTC has established the support on 200MA 1D - it failed to bounce for 3 consecutive days;
11. The initial buying comes from the short squeezes and not the public buying.
- 1M, 1W are exceedingly bearish.
- 1D is showing a bullish break in the progress. However, low volume and no-demand candles in the making signify a higher possibility of a 'relief rally' happening than a clear bullish reversal until 'higher high' at 7500 USD is established.
- No clear bullish trade can be established on a higher timeframe, the trades on the long side should be treated as a 'relief rally' and kept to intraday projections.
- The only factor to be escaping bears at the time of writing is the close below 50MA on 1W. A successful close below 50MA on 1W would make it a 'full package of the necessities for an obvious bear market'.
You usually get from me just: "it goes up, then to 6000 levels, might go down further but safely buy big chunk at 6".. now you see a piece of analysis that goes into it + whale movements + socialfeel + D man's secret sauce.
Enjoy and remember, Blockchain Whispers baby! Only Blockchain Whispers!
- You Get An Occasional But Accurate FREE Crypto Trading Signals!
- Real-Time Notifications About New Signals, New Posts And New Important Crypto Happenings.
- BlockchainWhispers–only members opportunities to make money or to save it from bitcoin downfalls. All when you start filling out the simple form above. See you inside!