🅱️ Bitcoin Weekly Now Bearish

For the first time coming out of a multi-year high, so, for the first time since April 2021, Bitcoin moved and closed weekly below EMA10.

👉 Bitcoin is now officially trading within bearish territory.

This signal can be interpreted as the start of a short-term bearish wave. If the wave will be long or short in duration we cannot tell at this point; assuming our halving theory, bull-market, etc., we expect a short-term correction —fast and strong followed by sustained growth but this is just speculation of course.

➖ The truth is that Bitcoin moved completely different in this cycle compared to previous cycle.

➖ The truth is that we are in uncharted territory, whoever gets it has done a good job at this point.

👉 The correction can be mild or strong.

So far all signals continue to point toward a major crash in the coming days or weeks; it can always extend but the bearish signals are only becoming stronger, the bullish side weaker.

The feeling right now is as if there are no buyers... Waiting... Waiting for something; maybe the movement of some funds. Maybe the waiting is for some market participants to become complacent or maybe simply this is just how human psychology works.

There was plenty of time to sell at the top but for many this isn't enough... Right now we are going down and instead of securing amazing profits, some people are kind of greedy hoping for more.

All we can say is that Bitcoin will grow in the long-term... But short-term, prepare for the drop!

Namaste.
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Daily TF:

Comment:

Bitcoin is leaving no room for doubt, the week starts red right away. We have political numbers coming out today and tomorrow but we know based on the chart what is likely the most scenario to develop.

The numbers will be "good" tomorrow, rejoice, party time yet somehow the markets will react in a negative way. So we will have positive expectations, positive news with mixed results.

Allow a few days for the effect to be noticeable and felt throughout the market. I say wait patiently until Friday or next week and the direction should be 100% clear by that point.

👉 And the basics of course: Bearish below 72/74K. Bearish with SHORT active below 70K. The rest is bullish (above these numbers).

Thanks a lot for reading.

Namaste.

Comment:

The numbers came out "good" as expected... We will see how the market react.
Give it time for the move to fully develop... 2-3 days.

Patience is key!

Comment:

We continue 100% bearish on Bitcoin.
Do not be distracted by market noise.

The next move is likely to develop within days... It can break to either side of course but we are extremely bearish below 70K. And continue bearish on a SHORT basis below 74K. (If it moves above we turn bullish)

The levels can help you stay calm and clear doubts because there is always market noise.

The noise are moves within phases of the market cycle; for example, the trend is up but you get "noise," prices moving up/down based on the buy/sell orders of varied market participants.

The noise we ignore, unless you are a scalper or day-trader, we focus on the trend.

We trade with the direction of the market.

➖ The market turned bullish November 2022.
We turned bullish.

We go bullish until the bullish wave is almost over and start to prepare for a reversal; we've been doing this for years...

➖ The market turned bearish March 2024.
We turned bearish.

We go bearish until the chart clearly shows a very strong reversal pattern or, the numbers mentioned above.

Stay clean, stay live, stay lovely, stay strong, stay safe...
Pray, breathe deeply, contemplate and meditate!

Whatever you do, comeback for more because we all make mistakes.
If something happened to you in the past that you do not like, do not be ashamed... We are all human beings and grow through mistakes.

Whatever happened yesterday helped us become what we are today.

And regardless if the experiences are good or bad, you will always deserve the best!

Namaste.