it s really scary how powerfull a 4 year old trendline is. btc rejected at the trendline as expected and all indicators are toppy. sorry for not sharing this set-up earlier. i sold everything at 9k$. volume now declining BTC dominance going down, could ignite an alts season party...
this upmove from the low 3k's was the first impulsive move after the long bear market. NOW: if we are really in a BULL MARKET, BTC has to BOUNCE off of the 20weekly MA as it always did in the past when btc was bullish.
Strong reasons for a bounce in the mid 6k'ish area:
-6k'ish was a long lasting support prior to the final breakdown. -20MA will be in the 6k'ish area in a few weeks - fibonacci levels 0.382 and 0.5 are in the 6k'ish - bullish cross of 20ma and 50ma should happen in the mentioned fibo area.
conclusion: so if btc only wicks down the 20ma, wait. green candle close touching and staying above, very bullish. for a perfect entry, look at the lower time frame charts when the time has come. BUT if we have a weekly candle close below 20ma... DANGER