Every timeframe on BTC just turned negative at once, daily, weekly, monthly, yearly, all red simultaneously. Thats a rare alignment and exactly the kind of moment that makes people trade the headline instead of the chart

Heres what the chart actually shows underneath that sentiment. Wave 5 topped a few months back, and price has worked through a textbook ABC correction since, wave C now sitting right on the same zone that flipped from resistance to support after the original breakout, the heavy monthly support band and the range lows both stacking right here

RSI’s the more interesting part. Its putting in a bullish divergence right into this same zone, oversold as the prior bear market lows, price making a lower low into C while momentum refuses to confirm it. That doesnt happen by accident and it doesnt care that every timeframe indicator is flashing red right now

Not calling anything, structure still needs to actually hold or reject here before any of this means something. But “every timeframe is negative” and “price is sitting on the exact zone that mattered every other time this happened” are two completely different data sets, and right now theyre both true at once. Worth knowing which one youre actually trading off

submitted by /u/Suitable_Acadia_190 [link] [comments]

r/CryptoCurrencyRead More

You might also be interested in reading Cardano Summit Sees Launch Of Exciting New Partnerships.