Updated

No Signs of Recovery

was on downturn before knockout punch in the arse. Now market is in the indecision area. Anyone hoping for Lambos may want to scale down to FIAT for now. Sure, cryptos may recover quickly, but chances aren't that great. Anyone who says they see signs of recovery are kidding themselves, and are lying to others. Although, past events don't guarantee future outcomes, there are eerie similarities between crash of 2013 and the current events. The result of 2013 crash was 2 year bear market. I am not saying, it'll take this long but nobody knows the future.

And no, I don't want crypto to fail. Why? Coz GREED.

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When it comes to crypto, there are 2 time frames when most trading occurs during the day. Early morning had very weak activity and sell-off for the most part. Let's see what happens in the evening. Personally, I am sitting on the sidelines, because all paris I watch are kinda meh. Well, let's be honest, the market is garbage right now.

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Whoa.. the cloud on 1h chart has provided sufficient support, and the price kind of closely followed it. Actually it got away from the cloud, maybe that initial bump was enough to restart the general uptrend. However, we still have larger trend at play. And it still points down. There's a lot of resistance around $13000. So, trade at your own risk.

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Troubling divergence on 1h chart

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Oh, $#@, ultimate oscillator kicks some serious ass. Took some profit at $12700 (coz it's newbie mistake not to take profit). Now we are back to 24h ago. Let's see if previous support holds.

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Breakout on Saturday night didn't spark any buyer activity. Unless something changes, it's likely the market will continue slide towards last week's low :( On 1h chart, UO went below 30. However, this isn't buy signal by itself. Risk/reward ration is through the roof right now.

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Buyers are mounting momentum but they are unable to move the price.

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It probably is a good idea to stay on sidelines at the moment. While divergence is bullish, it might backfire very quickly. So wait for break up or down.

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Holy $#@, Spectacular fashion backfired. I begin to think I have super powers. I'll go work on a site so I can sell my winning trading techniques and speshul signals. Man! I am good.

(Cold shower time....)

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No FOMO on that massive breakout. Wait for price action. If bulls don't step in, this isn't going to end well.

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Nope. There's bearish signal. Mini bull rally is running out of steam

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And BTC continues to range. 10k is psychological level that is hard to break. However, there's a lot of pressure around $11.7. I'd even say 12k. Next 2-3 days are going to be decisive.

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If you are going to take this breakout trade, be careful. There's ton of resistance I mentioned above.

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The volume isn't there for breakout. Pull back, and one more attempt I think.

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It's down the wire. 11k support must hold or no bacon for bulls

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This is it. BTC failed to breakout for 3rd time. Now there's too much down pressure. We may even have smaller downtrend taking place. But yeah, we are headed for sell off. Down to 8k most likely. I also think that 10k is a major psychological factor, so there's fear may set in.

Let's see what happens.

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And so it begins... The grand finale.

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Don't get caught in this. The same thing happened last week before crash. This looks like a pump and dump.

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Or it's a normal breakout and I am a paranoid idiot. Anyway, it's going to go back down. Bear signal triggered.

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And guess I am not completely lost my mind. There was pump, and here comes the dump. A lot of reputations of ZOMG TOP anonymous investment advisors are down the toilet. People stop taking investment advises. Use your brains LOL.

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Signs of strength. To confirm that we're on the way back to , it has to retreat back to 0.382, and bounce back to 0.5. That's going to be sure sign of immediate reversal of trend. If it breaks to 0.618 now, it's less likely to go back to 1, coz we are still in downtrend since December.

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Haha, wow. Is is this another one of this? Yep, this valueless, digital junk makes no sense at all :P

Trade closed: target reached

What used to be strong support is about to become resistance. 10k that is. Next stop is 6k if you use measured movement, and it's not going to bottom there either. Descending trend line will continue to be valid at that price as well. If USDT turns out to be complete scam (sssh it is), it's going to get much worse.

afterforever

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afterforever