BTC update 6
Looking at the indicators I observe a similar pattern as 20 May 2021. Compare the green vertical line to today on the daily. If I take the ensuing consolidation of approximately 1 month and bring it forward to today a possible further down momentum of 31% might be in play to a target of between $23007.04 and $21933.23.
1. The Trend is very low on the Trend Exhaustion indicator and due for a move up. This does not indicate that it has to for now.
2. The Price vs Whale Money flow Is still too high although decreasing currently. Looking at the sharp drop in shorts currently supports the decreasing money flow above the price range. I am not seeing an increase in long positions compared to shorts. It needs to move below the price range to be in sync with the Trend Exhaustion. The RSI is extremely low and also due for a move up, however looking at the picture holistically the market is still out of sync and I believe a similar situation might be playing out as mention in the beginning
1. The Trend is very low on the Trend Exhaustion indicator and due for a move up. This does not indicate that it has to for now.
2. The Price vs Whale Money flow Is still too high although decreasing currently. Looking at the sharp drop in shorts currently supports the decreasing money flow above the price range. I am not seeing an increase in long positions compared to shorts. It needs to move below the price range to be in sync with the Trend Exhaustion. The RSI is extremely low and also due for a move up, however looking at the picture holistically the market is still out of sync and I believe a similar situation might be playing out as mention in the beginning
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