BTC (Y19.P2.E11).v3.Something to watch out for

Potentially a diamond formation taking place.

Quotes from 3 sources.
1) This can be a reversal or a continuation. where break up is 70% chance, and the chance of a break down is 30%.

2)
How much has #Bitcoin rallied as a result of its Halvings to date?
Halving 1:
+13,378%

Halving 2:
+12,160%

3)
The market has a way of inflicting pain on late entrants, always.
It does not care about your plans.
Keep an eye out for the signs of total negativity and complacency by bears.

Diamond bottom formation reference > www.profitf.com/arti...amond-chart-pattern/

Commentaire:

Its just recent that we have had another drop and what I'm looking for is a bullish divergence sign like previous and\or from a no. of indicators, not only these two.
I like the ADX as it demonstrates a decline (red) in the bearish strength but not necessarily buy strength. RSI on the 4 HRLY is below 20%. All in all, we should see a opportunity to at least short this. I don't expect any quick gains and if I was to go long, I would expect it to be dragging out for a few boring months with no further drops.
My gut feeling says 5K range but I have to ignore this and focus on what's now.

Ordre annulé:

So we can conclude that the diamond potential is no longer valid. Because it was not validated, its no longer a strategy to follow. So I will be treating the market with a bearish tone and I will be looking for pricing around 5500 to 6500 range. I will be holding onto my BTC that I have bought here as I have this is my go long portfolio. My remaining funds which is 75% left will be focused on shorts and if we reach the next fib level or area of value, I will buy a significant portion in.