Money flow shows on the daily candles that we have at least another leg down coming to 38k. Best way to play the daily money is to try and short tops and move ur stoploss into the profit so that when the dip buyers get worn out you will have a short from the highest point. It seems like every weekend now we will have some fake out - especially going into thanksgiving there could be another fake pump and it will make the most sense to try and catch the top when btc is losing momentum. You might have ur stop hit over and over but one of these times you will be setup to capture the move into the low 40s
If you look at the chaikin money flow on the daily after hitting a peak you can see that everytime we cross the 0 line from that peak we have a large correction. Right now we are looking at 38k before resuming up at a minimum. I think this will drag on for a few weeks with a potential trap to 63k before getting sold back down lower and lower. I predicted the end of the cycle at 66k because of the price action over the previous month and I still think btc is going higher long term but I don’t think we are going to new highs anytime soon. I’m predicting at least 4 month correction and consolidating
If you look at the chaikin money flow on the daily after hitting a peak you can see that everytime we cross the 0 line from that peak we have a large correction. Right now we are looking at 38k before resuming up at a minimum. I think this will drag on for a few weeks with a potential trap to 63k before getting sold back down lower and lower. I predicted the end of the cycle at 66k because of the price action over the previous month and I still think btc is going higher long term but I don’t think we are going to new highs anytime soon. I’m predicting at least 4 month correction and consolidating
