- The trend is clearly descending and there is absolutely no sign of a trend reversal at this moment. The bears are extremely strong and I don’t see any hope for a greater price action.
- However, we can definitely experience a relief rally back to 21300 USDT and even break the trendline temporarily, where everyone can get caught like a deer in the headlight?
- On this , we can spot a , and we can go sideways for another month and consolidate in this . I would not be surprised at all if this happens.
- After the price breaks the triangle, I expect 12500 USDT as a potential reversal point. I think this crash will be very fast and will be followed by a huge candle, so you want to set your limit orders to catch this upcoming flash crash.
- November and December can be very Bitcoin , so you don’t want to miss it at all cost. months for
- The good news is that the stock market and gold are already crashing while Bitcoin is relatively strong, to my surprise.
- On the 4h chart, Ethereum also shows a sign of a temporary relief uptrend, as does XRP and other altcoins.
Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.