BTCUSDT 1D healthy retrace or pending dump, what can we expect?

2018年7月26日

BTC 1D testing resistance again, here we have the upper Kumo cloud edge to break through, previous resistance level, and we have a clear bearish divergence on the oscillators which are clearly showing the market is overbought. It only makes sense going by this chart to see some kind of correction (or dump). I would anticipate price retracing to the .236 or .382 fib levels before another move up. Then again, being as unpredictable as it is, Bitcoin could head in any direction depending on smart money moves, herd mentality etc. What goes up fast can also come down faster (don't forget). If we end up breaking bullish through this potential Kumo edge I'll be convinced the BTC phoenix has risen once again. Until then I'm cautious as we have some very hungry bears hanging around and this point right now would be a great time to set up some FUD and liquidate. Also notice a similar 5 wave bullish move previously (look left) followed by a significant bear run. Anything possible but I'm expecting at least some kind of an ABC correction. Not financial advice. Be on your toes.