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Ambrose's avatar
$70.3MFollowers
I think Bitcoin / Crypto might crash $BTC.X $ETH.X
Would love to hear y'all opinions

Disclaimer: I am not a trader and do not have much technical analysis experience. But, hear me out.

Back story:
Recently, I was learning about the crypto space and really got interested in the Defi space. I was trying to time my entry to buy the best price at the recent.

So, I start picking up some day trading information.

So...
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This is the recent 1D candles of bitcoin chart. As u can see, above the candles are blood-red diamonds with no green signal in sight. The yellow crosses indicates huge money outflow ( A.K.A whales dumping)

Red diamonds meant wave trend (WT) crosses down
Red X means EMA trends down

Blood diamonds meant WT and EMA down (red diamonds + cross)

Yellow X means RSI + WT + rsiMFI all down

As u can see, there are no-green signals since the drop, and more and yellow X indicating whales are still dumping.

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The only time in the last 4 years (Max chart) there were yellow crosses were in the 2018-2019 crash

My opinion:
I think that the worst dip might be coming in a week or 2 which the 2nd cross might appear. Before there will be a sizeable bounce. Gotta feeling YTbers are really fatigue repeating it's the bottom now, buy now.

My guts are telling me they will go quiet by the next week if it dumps just like the small-cap crash in March.

In all honesty, you probably shouldn't trust me with little experience with technical analysis. Would just like to hear your opinion about it.

Positions:
Am considering tossing some money for a fun bet once Binance validates and leverage farming, shorting non-stable. Not planning to put much since I am still bullish on bitcoin long-term.

Ambrose's avatar
$70.3MFollowers
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