BTCUSDT big drop in 4 steps

2021년 11월 5일

In one of the previous ideas I mentioned the possibility of a big drop in BTCUSDT. Since then, the price has moved similarly as predicted.
In this idea, I divided the possible drop into four steps.

Now I will just list all the signals I have noticed and which can suggest a drop in BTCUSDT.

Bearish signals:
- volume divergence
- rsi rejected bu trendline
- the price is on the top line of the big megaphone (red line)
- possible formation of a double top
- the price is on the top line of the triangle pattern
- the price is on the upper line of the trend channel
- X-A, A-B and B-C butterfly pattern boundaries are formed, C-D should be formed
- The price is on the top line of the orange megaphone

As you can see this idea depends on the red resistance line.
If the price breaks the resistance line the idea will not be valid.
Keep in mind the possibility of a false breakout.

Disclamer: This is not financial advice.
You trade at your own risk.