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The monthly candle we wanted.
- Took the last month low and bounced.
if that was the bottom. Damn i can only pray for the bears.
Just don't be a bear as long as Btc doesn't go back to that monthly low.
Read the full monthly idea in the below post
LIVECRYPTO MECHANIC
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$BTC Update
Bitcoin is going to print a first red monthly candle after 6 months of upside and ain't no way it can bounce back $5000 in 4 hours.
The plan is to observe what the next month does.
If the next candle breaks the current monthly lows first and then starts moving up then it can most likely recover this current move down. But just in case BTC starts going up without taking the lows that can be a concern.
(Picture 2)
Based on the complete history of Bitcoin, A red candle always marked a Top.
The chart may look weird to you it's a LOG chart. To see the full history without zooming out a lot.
This time it might be Different as We didnt see a new big bull market high yet. All of the previous tops were way higher than the last top.
Lets see this is why i said we will have to observe what next month does.
Bitcoin is going to print a first red monthly candle after 6 months of upside and ain't no way it can bounce back $5000 in 4 hours.
The plan is to observe what the next month does.
If the next candle breaks the current monthly lows first and then starts moving up then it can most likely recover this current move down. But just in case BTC starts going up without taking the lows that can be a concern.
(Picture 2)
Based on the complete history of Bitcoin, A red candle always marked a Top.
The chart may look weird to you it's a LOG chart. To see the full history without zooming out a lot.
This time it might be Different as We didnt see a new big bull market high yet. All of the previous tops were way higher than the last top.
Lets see this is why i said we will have to observe what next month does.
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