Bitcoin's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
There's very few people on crypto twitter who publicly sold the December 2017 high. There's even fewer who also sold the 2019 high.— Tyler (@TylerDurden) January 13, 2021
I did and this isn't the high on #Bitcoin.
Double it, front run everyone waiting to retire at $100,000 and then you might have a cycle high.
Self (ego) is the enemy of the trader and investor. Some display it as if it were a badge of honor. Be careful, it can be transferred from others. Walk away as fast as you read it, and follow your own trading discipline. We use the Evolution of the Trade.
I can give numerous reasons entry into Bitcoin right here is dangerous. The daily trend is extended in both price and time. The daily trend oscillator is also falling fast. Other reasons include the reversals located in the Matrix. There's a strong resistance band from 39.5 to 44 (see chart below). High volume reversals need energy and/or volume to clear.
We need to see yesterday's energy build to better understand what the invisible hand was doing into the decline.
Daily Reversals taken from the Matrix
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