Busy week with lots of BTC hitting the exchanges, whales are getting ready for the final bear market leg!
Large bearish divergence on the OBV (the volume indicator), so we have a price that makes tops more higher and the OBV more lower, basically we have a pump without volumes that I can consider like a buy to sell manipulation to trap short stops before continuing down.
https://www.tradingview.com/x/dGgkXC0W/
A lot of shorts to liquidate in the north up to 22.2K, and the same in the south up to 16.8K.
It's almost the same thing to liquidate in the north as in the south, except if you look closely we have slightly large peaks in the north until 22.2K, I would say 55% we will go to 22K first and 45% to 16.8 K, but first to see what is happening on the S&P 500 and the DXY for more confluence!
NOTE: On the King Fisher map I try to see the peaks closest to the price from 10% to 20%, since it changes every day after liquidations and traders who close their positions in loss, gain or at break-even.
The S&P 500 after closing yesterday with a bearish Long Wick Candle, today closed with a candle the opposite of what we had yesterday.
Is it the rebound on the support at 3636 towards the beginning of W the double Bottom? or just a pull back to test resistance at 3720 as support recently in June and July and then it's going to get rejected lower to look for 3500?
https://www.tradingview.com/x/QyDOePqg/
The Dollar is down today with a large engulfing candle, possible to seek the next support at 110 in confluence with the 61.8% fibo
The dollar's decline in favor of the S&P 500 and BTC to trap lag shorts with big leverage, and I think that's just a small correction in the DXY in the middle of a bull run,
In a world that is in danger of falling into a big crisis economy created by the US, Russia and China, I don't know if I missed a positive news that made the S&P 500 rise but I see that fear and the word recession on social networks, and a bear market which continues.
I think we are at the beginning of the depression's cycle, and if everyone will wait for the 10K on the BTC possible that we will not go but possible just a little lower than the last bottom at 17.6K so towards 15K and then bounce back to come back above 19K to 20K and stay in a range between 15K to 20K + or -, and who knows 10K or even lower again!!!
I closed yesterday's two shorts on BTC and ETH given the risk of going above 20K towards 22.2K and +
The market is in a manipulation range with stop hunts of longs and shorts, although the trend is bearish in the short and medium term, so I would wait for the reaction of the price on the next resistance at $20800 in confluence with the 61.8% of fibo, the MA 62 and the red trend line, but if we go directly lower, it does not matter it will be that unrealized profits are better than taking losses, sometimes not trading is winning money that we risk losing if we have a doubt, and trading against the trend is to be on the side with less probabilities!
https://www.tradingview.com/x/kXXs8QSZ/
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