Bitcoin WTF is going on? Long-term Weekly Analysis w/ Spectro™ M
This is trade using Spectro™ M
First things first, it's a big, scary and very well consolidated downtrend. Also, we have this clear and big downwards compression zone also known as the descending triangle.
The overall sentiment is BAD, no new tech, small and medium investors are constantly losing faith and selling on losses, LN still fails to deliver, ETF has been postponed.
I don't wanna get all apocalyptical on you but if this descending triangle confirms we might see a run to the next Fibo level, the fibo levels are automatically calculated and plotted by Spectro™ M.
If it confirms the next strong support is close to 2-3k...if you're a hodler, I'm really sorry for you, I hope you understand the insanity behind this word now.
BUUUT, there's a tiny bit of hope since a weekly UP WARNING just triggered, this warning is plotted by the Spectro matrix, which compares the real-time trend with past data and tells you the probable direction based on a machine learning proprietary algo. Which means there might be a possible reversal.
Thinking short term, we're close to the support so we might see a uprun to the upper resistance of the descending triangle close to 7800-7300, but the overall situation doesn't look good and that's why I've been out of crypto since feb, I've been trading just a very small portion of my portfolio because the volatility is still hard to ignore.
If you have a big position on btc, you might wanna play it safe, get out and wait a bit and see where the market goes. Even if you're a hodler, you might want to consider to stay in dollars and as soon as this situation reverses or get a little better you can buy back in, now, I think it's an unnecessary HUGE risk.
Liked it? Give it a shot at, it's really affordable - you wouldn't believe if I told you: hypester.org/spectro-indicator/
First things first, it's a big, scary and very well consolidated downtrend. Also, we have this clear and big downwards compression zone also known as the descending triangle.
The overall sentiment is BAD, no new tech, small and medium investors are constantly losing faith and selling on losses, LN still fails to deliver, ETF has been postponed.
I don't wanna get all apocalyptical on you but if this descending triangle confirms we might see a run to the next Fibo level, the fibo levels are automatically calculated and plotted by Spectro™ M.
If it confirms the next strong support is close to 2-3k...if you're a hodler, I'm really sorry for you, I hope you understand the insanity behind this word now.
BUUUT, there's a tiny bit of hope since a weekly UP WARNING just triggered, this warning is plotted by the Spectro matrix, which compares the real-time trend with past data and tells you the probable direction based on a machine learning proprietary algo. Which means there might be a possible reversal.
Thinking short term, we're close to the support so we might see a uprun to the upper resistance of the descending triangle close to 7800-7300, but the overall situation doesn't look good and that's why I've been out of crypto since feb, I've been trading just a very small portion of my portfolio because the volatility is still hard to ignore.
If you have a big position on btc, you might wanna play it safe, get out and wait a bit and see where the market goes. Even if you're a hodler, you might want to consider to stay in dollars and as soon as this situation reverses or get a little better you can buy back in, now, I think it's an unnecessary HUGE risk.
Liked it? Give it a shot at, it's really affordable - you wouldn't believe if I told you: hypester.org/spectro-indicator/
評論:
The price already reached the 7k threshold, respecting my forecast, so now ladies and gentleman it's time to watch the correction. Is it going to break the last price support? Will it confirm the descending triangle? If yes, well, if you're a hodler, RIP.
