Weekly Bearish Engulfing on Bitcoin
Actualizado
Still keeping my short from 7.5K in place.
Despite having a rally today, we must not forget that the bears have been hunting the bulls for the past 4 days ... so we could just go up to test new resistance levels, but with that said...
TD 9 count still in tact with BTC chart, currently on bearish day 5? I think. 5 of 9, or 4 of 9. So expecting a big move to the upside in 5 days or 4 days. Unless we bounce only to break down to lower than 5K levels.
Bearish engulfing candles are potentially very bearish. Higher timeframe charts rule the lower time frame, and you're looking at a weekly chart here.
A lot of FUD flowing into Bitcoin so I'm more confident in having a short position than a long one. The attack on Bitcoin with Bitcoin Cash looks like it's only starting.
As a business owner who receives payments in bitcoin, I still am waiting on 5 transactions for the past 3 days. As we dip, this information will be brought to people's attention ... in my opinion anyway.
This is more FA, though - technical are just telling me to be out of the market. For now!
Despite having a rally today, we must not forget that the bears have been hunting the bulls for the past 4 days ... so we could just go up to test new resistance levels, but with that said...
TD 9 count still in tact with BTC chart, currently on bearish day 5? I think. 5 of 9, or 4 of 9. So expecting a big move to the upside in 5 days or 4 days. Unless we bounce only to break down to lower than 5K levels.
Bearish engulfing candles are potentially very bearish. Higher timeframe charts rule the lower time frame, and you're looking at a weekly chart here.
A lot of FUD flowing into Bitcoin so I'm more confident in having a short position than a long one. The attack on Bitcoin with Bitcoin Cash looks like it's only starting.
As a business owner who receives payments in bitcoin, I still am waiting on 5 transactions for the past 3 days. As we dip, this information will be brought to people's attention ... in my opinion anyway.
This is more FA, though - technical are just telling me to be out of the market. For now!
Comentarios
Also we could hit those levels sooner because these are weekly charts! Don't take the arrows for granted, just merely sketchingComentarios
I think it is inevitable that we will turn into a bullish engulfing candle this weekend.
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