Bearish strength, bulls are showing weakness.. part2..
Updated
- Fear greed is 30, not too low, can easily go much much lower..
- Overall sentimentals of the market aren't good, disapointment of market response to Bakkt and other big news, also fear from reversal to bearish is intact, which means that going below 7700 will cause big panic sells, easily can reach to 7200-7000..
- Google trends manipulation stopped acting on bots, "BTC" trend came down below the "Bitcoin" trend to its rightful place...
2. TA/PA
- 4h TF cloud keeps on providing very strong resistance...
- Oscillators on low TFs such as RSI had enough time to rest and reset, weekly still having a huge space going down, daily is pretty oversold but can easily get squized down...
- Volume buying power activity on daily is getting higher, but on 4h and 1h looks like it is going down and creating lower highs which might effect with poorer response on daily..
- Fib' retracement level is testing 0.5 fib', under 8100 (Especially if we close below 8050 which is very strong S/R level) it will fail to preserve it which means next is 0.7' fib (7870, and wicks to around 7750), closing below it means we are going for 7000-7200 next.
** The current 4h TF candle and the next 2 are very critical, as the 4h cloud squeezing down the PA, if we enter the cloud and close inside it we might find support within it and jump up, else if we continue going below it then it means we will close below 8050 which will result on a very bearish move...
- Overall sentimentals of the market aren't good, disapointment of market response to Bakkt and other big news, also fear from reversal to bearish is intact, which means that going below 7700 will cause big panic sells, easily can reach to 7200-7000..
- Google trends manipulation stopped acting on bots, "BTC" trend came down below the "Bitcoin" trend to its rightful place...
2. TA/PA
- 4h TF cloud keeps on providing very strong resistance...
- Oscillators on low TFs such as RSI had enough time to rest and reset, weekly still having a huge space going down, daily is pretty oversold but can easily get squized down...
- Volume buying power activity on daily is getting higher, but on 4h and 1h looks like it is going down and creating lower highs which might effect with poorer response on daily..
- Fib' retracement level is testing 0.5 fib', under 8100 (Especially if we close below 8050 which is very strong S/R level) it will fail to preserve it which means next is 0.7' fib (7870, and wicks to around 7750), closing below it means we are going for 7000-7200 next.
** The current 4h TF candle and the next 2 are very critical, as the 4h cloud squeezing down the PA, if we enter the cloud and close inside it we might find support within it and jump up, else if we continue going below it then it means we will close below 8050 which will result on a very bearish move...
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Almost identical ;)
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Who is enjoying the show?? Guys, volume buying power went down drastically!!!! I don't recommand any longs here.
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I will keep updating the signal which I provided on my last idea here:#Short#CurrentPrice-8264
- current live price is 7934..
SL move to profits at: 8193
TPs reached: 8085 (10%).
Next TPs: 7785 (50%), 7470, 7270, 7170, 7070, leave 10% for any lower levels...
Note
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