MPH_

Continued heavy rejection for $BTC: Be careful buying anything

BINANCE:BTCUSDT   Bitcoin / TetherUS
$BTC will most certainly have some more pain, which will impact other coins, so be careful buying "alts" right now. They quite possibly all will get rejected at resistance, whether it is resistance line or moving average(s). This can coincide with a bitcoin rejection/move lower. $BTC still in downtrend with continued resistance. Todays candle has quite the tail on it (thus far), showing a nice rejection. Notice rejection continues starting from 39k, to 37k and 36k. Now being rejected at 35k and soon to be at 34k, 33k and so on. Also notice the continued rejection by the moving averages, whether it be the 50 day (green line, extreme resistance there right now) or the clouds (can't break above them), there is not much to be bullish about (yet). Anticipating at least one more decent size move lower. Maybe two. Three would be possible but unlikely and would be the unlikely move to 13k. Still feel my (and many others) analysis of 20k, or at least the 20k area, is where we are headed before we move higher. Short term bearish, long term extreme bull. Don't buck the trend. You cannot deny the trend. Like and follow, ask any questions.

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