🅱️ Bitcoin CME Update | Correction Canceled?

12 בדצמ׳ 2023

Since the last update we have a new gap and the last jump is the final "bull-trap".

Bitcoin produced a new high in the early days of December but there are some bearish signals mixed in-between the candles.

For example, the new high is immediately followed by the strongest bearish candle since March.
Sell volume is really high and the close happened below EMA10.

The RSI did not match the new high and ended up printing a bearish divergence; These signals together can start to build a strong case for more red.

It is still early of course, but we see green/buy volume dropping on a daily basis which is indicative that the bullish momentum is losing its force.

It might still be early because Bitcoin continues trading above 40K, but the crash can happen so fast that one is easily caught by surprise. By the time we realize it is already too late.

Regardless of how things go now, we know growth is scheduled for the long-term.

With a positive attitude we continue to wake up but keep in mind that a pre-halving correction is not the exception but the norm.

It is great to be part of this live... There is always something going on.

Namaste.