Bitcoin – time to dump!

21.07.2022 12:34 pm

Hello, everyone!

Yesterday I sold half of my Bitcoins. Now I have only 10% of the deposit in BTC according to my tradevesting approach. I think that we will see lower prices, let’s try to explain why.

Let’s take a look at the BTCUSDT chart of the WhiteBit exchange. I marked the liquidity zones with the red and green color. We can see that last couple of days the Bitcoin have been collecting liquidity above the daily fractal level. Now there are no reasons anymore to grow. If we will see the more pump only to collect liquidity at the $32k. This is the reason why I have 10% of deposit in BTC now, because nobody can know where the price will be in the future.

Another one bearish sign is the lack of supply bar which was formed yesterday. It is the bearish hammer candle with the relatively low volume.

Also we have one insufficient bullish sign. The Williams alligator turned to the bullish state, but it has not make sense in it’s own. This indicator works nice only with the Elliott wave counting, but there wave 5 is absent. Because I am not a guru of Elliott waves, I will buy Bitcoin at the red (balance) line of the alligator, but my main scenario is the collecting liquidity below $17k.

Good luck!

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