๐ BTC : New Structure Formed ,Indicating Strong Bearish Wave ๐งจ
Hello Dear Traders,
(Crypto Market Cap : 541 Billion , BTC Dominance:62.7%)
In Last post I was discussing about symmetrical triangle breakout , this triangle gave breakout to downside and tested 17650 level.
btc found local demand at 17650 area and tested again the previous demand zone , now this demand zone before breakout is converted into new supply zone.
which is a very concerning thing. This type of setup is seen when there is preparation going for a bearish wave for the next 2-3 weeks. i m still expecting btc might see 16k level very soon bcoz on weekly chart things are getting little different now. in 3 days the weekly candle will be closed, this candle closing might change things from bullish to bearish.
So have to carefully trade BTC and Altcoins.
To Become Bullish again BTC must stay above 18900 before Weekly candle closing. otherwise downtrend may start.
There is Famous Quote "Market Repeats History", We Know that in 2017 Btc bearish market started bcoz of MTGOX heavy Sell off when btc was trading near all time high
the same scenario is going to happen again, After multiple delays, creditors of Mt. Gox who lost money in its implosion in 2014 are set to know when they will receive BTC on Dec. 15 and the temptation to sell for profit may prove to be too great to avert a mass run on exchanges.
After years of legal tussles, a rehabilitation scheme will see roughly 140,000 BTC distributed to creditors. Also Miners are selling there BTC heavily through various exchanges
Heavy Supply is going to Come In the BTC Market Soon.
Please share your opinion and leave a comment and / or give it a like.
This trading idea has been presented to you by ROHITWORKSS
(Crypto Market Cap : 541 Billion , BTC Dominance:62.7%)
In Last post I was discussing about symmetrical triangle breakout , this triangle gave breakout to downside and tested 17650 level.
btc found local demand at 17650 area and tested again the previous demand zone , now this demand zone before breakout is converted into new supply zone.
which is a very concerning thing. This type of setup is seen when there is preparation going for a bearish wave for the next 2-3 weeks. i m still expecting btc might see 16k level very soon bcoz on weekly chart things are getting little different now. in 3 days the weekly candle will be closed, this candle closing might change things from bullish to bearish.
So have to carefully trade BTC and Altcoins.
To Become Bullish again BTC must stay above 18900 before Weekly candle closing. otherwise downtrend may start.
There is Famous Quote "Market Repeats History", We Know that in 2017 Btc bearish market started bcoz of MTGOX heavy Sell off when btc was trading near all time high
the same scenario is going to happen again, After multiple delays, creditors of Mt. Gox who lost money in its implosion in 2014 are set to know when they will receive BTC on Dec. 15 and the temptation to sell for profit may prove to be too great to avert a mass run on exchanges.
After years of legal tussles, a rehabilitation scheme will see roughly 140,000 BTC distributed to creditors. Also Miners are selling there BTC heavily through various exchanges
Heavy Supply is going to Come In the BTC Market Soon.
Please share your opinion and leave a comment and / or give it a like.
This trading idea has been presented to you by ROHITWORKSS
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