Bitcoin BTC Jan 24 Technical Analysis Update - No official uptrend confirm. Massive Rejection.
Massive Rejection on 4 Hour Chart with Shooting Star
We see a 4 hour candle show a shooting star, which implies bears have rejected the bulls attempt up, by showing a long wick. due to the rejection of a bullish attempt, we can fall back to the support zones indicated in the green box.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
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Thanks for the update! Have been waiting for this. Yes, I've been counting the waves as follows and confirmed that the wave 4 has ended (subwave 5) when it never breach 11600 (which is the wave 1's low). Also I've double confirmed this to be the "top" as soon as the price drops below the 2nd blue dotted line (11219) as it's the tip of the sub-sub-wave 1 (and should not overlap unless it's doing a wave 5 correction) - do I make sense? Haha... thanks for all the lessons, I'm feeling that I can start to fish on my own soon.
Hmm could this be a possible count?
Looks to me like Bear flags which are getting bigger preparing for the last bottom of this whole correction.
Guess we need some kinda breakout with a good volume now :)
Greetings to Luna! Thanks for the quick update
Open your mind, be formless, shapeless. Like water! Thanks phil
What I don't get is how big whales, like the Winklevoss twins, cannot do anything about this price drop. A recent article says they may have a loss around $350 million because of the recent price collapse.
that's what HODLING is all about. They are long time hodlers.
How can you be sure they are not selling bitcoins, hoping to buy them back at a lower price? At the end of the day, bitcoin is simply a great speculative asset - so far you can barely use it as money.
I’m sorry people blame you for their losses. You have taught me so much in a matter of weeks. I have lost a little btc but I’m testing theories and getting better everyday. Your TAs and tutorials are a big reason why. The crypto community could use 100s more like you instead of all these youtubers who upload doom videos when the market is red or moon videos when it’s green for a day. Keep it up!
Thank you much for the video. I have started learning chart reading from your old videos. You are freaking amazing.