BTC (Prj.2019.P03.E12).Next MACRO level move

16 באוג׳ 2019

Looking at the past week, it's obvious the BEARS have dominance and with a 20% drop...it showed how weak hands.
On the WEEKLY CHART, we have had 3 big rejections with LARGE wicks. This is a clear sign where things are, a pause on the bull run.
Hence it will take a lot longer for the bull trend to resume.

The RSI or momentum indicators show for the short term, a likely limited uptrend and as per the chart, where the potential boundaries are.

MACRO LEVEL: BTC remains above the BLUE Moving Average multiple times during the bull run of 2015-2017.
The trend just got tested again and passed. However looking up closely...its getting to a pivotal point...soon. This is what needs to be monitored.



Previous post, a continuation from it.

16 באוג׳ 2019

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Not looking good. Closing below the symmetrical triangle pattern will indicate a downward trend (4 HRLY)

16 באוג׳ 2019

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Trend compromised

16 באוג׳ 2019

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The battle is not finished

17 באוג׳ 2019

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17 באוג׳ 2019

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The weekly perspective. The above is also a bearish formation. As I stated, I'm looking bearish. Looking from a BEARISH perspective, the WEEKLY chart supports this theory. The RSI at the 53% has yet to be touched and the way its going, its headed for it. If it goes below this point, then we will be looking at a complete different scenario for the year.

17 באוג׳ 2019

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17 באוג׳ 2019

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At the micro level, looking for bearish divergence,

18 באוג׳ 2019

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Micro level...still bearish...many obstacles. 1 HRLY Chart.

18 באוג׳ 2019

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MACRO level -- pivotal point. Not a good time to go in.

18 באוג׳ 2019

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RSI reflecting the same sentiment. 3 Day chart

18 באוג׳ 2019

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Some confirmations at the Micro level.

19 באוג׳ 2019

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It happened quicker than I thought