Sovryn_Matt
@t_Sovryn_Matt
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Sovryn_Matt
I think this scenario is possible that could play out. Powell speaks on 6th & 7th of March where we could see price make new highs then get rejected in the 65K -$68k range. 69K is a meme 😂, I am doubting we break that before halving. I have seen this Wyckoff pattern play out often need times when bitcoins are feeling FOMO/Euphoria. Just my opinion. Not financial advice.
Sovryn_Matt
$BTC Weekly MACD appears to be forming a bearish cross. BTC Weekly MACD appears to be forming a bearish cross. A #MACD Bearish cross over on the BTC weekly price chart has historically led to 30-60% drops in the last few years without exception. 🐻📉
Sovryn_Matt
$BTC Price now below the 50 MA. Historically, more downside is expected when price falls below 50 MA on Bitcoins daily price chart. #Bitcoin #TA
Sovryn_Matt
$BTC 4hr Upwards Sloping Head and Shoulders CRYPTOCAP:BTC 4hr Upwards Sloping Head and Shoulders chart pattern.
Sovryn_Matt
$BTC Weekly Chart Update $BTC Weekly Chart Update Upwards trending support zone now has turned into resistance zone. $BTC Weekly Chart Update Upwards trending support zone now has turned into resistance zone. $BTC Weekly Chart Update Upwards trending support zone now has turned into resistance zone. 2 weekly candles forming lower lows. $BTC Weekly Chart Update Upwards trending support zone now has turned into resistance zone. 2 weekly candles forming lower lows. $BTC Weekly Chart Update Upwards trending support zone now has turned into resistance zone. 2 weekly candles forming lower lows. Bulls good luck. 🧸
Sovryn_Matt
Indicator uses Machine Learning: Lorentzian Classification - #BTCUSDT TradingViewFor more details see link attached:
Sovryn_Matt
GM Tradingview Wizards. -Observe the RSI is following the same path after the top at 69k.-SRSI is forming the similar double top pattern and looks to be rolling over this week.-Weakly bearish engulfing candle has now formed which indicates more downside to come.
Sovryn_Matt
Also notice a bear flag also seems to be forming. I am already short from 30k so I will not enter here but i expect more downside to come from here. Be aware of zone Invalidation if price move above $27900.
Sovryn_Matt
The current narrative is that BRICs central banks are buying the gold. Maybe its true but I would be bearish if we broke below 11950 level. Longer timeframe I could see GOLD pull back ~30% like in 2008 great financial crisis.
Sovryn_Matt
Just an update on the daily RSI, MACD and SRSI indicators. We now have a bearish engulfing candle on the daily.
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