Discover more from Stewdamus' Chart Analysis & Trade Alerts
Why am I ignoring the 85% probability that Bitcoin will crash?
Am I foolish to ignore this glaringly obvious Head and Shoulders pattern on the daily?
In this video:
* A Head and Shoulders pattern is glaringly obvious on the Bitcoin Daily chart. So, why am I ignoring the 85% probability that it will play out and we will drop to 20k?
* I review my top 7 reasons why I do not see bitcoin price dropping much further
1. Bullish Divergence and kiss of the top of our trendline
2. Weak right shoulder
3. Liquidity pools drying up
4. Hedge funds back to work next week Jan 10. Back from vacation
5. Many of the altcoins have already suffered an 80% pullback. Not much room to go lower.
6. BTC.D is low
7. Everybody thinks we will crash in Jan.!
Wishing you all the best!