MatthewDixon

How often have I said to watch out for major Bearish Divergences on LONG timeframes as an indication of a significant turning point in the market.What was the last serious Bearish Divergence telling us about #ETH

#Trump at it again - disappointing doesn’t quite describe him!

#LTC long held trend line is VERY important. Price has NOT CLOSED below it for 9 years now. It has tested below multiple times and failed to break down - This time may be the same but we need to wait the close of the monthly candle to see.\nA close above would be Bullish - Below would be Bearish.\nA Break of $LTC 63 would be devastating as it would eliminate any Hidden Bullish Divergence.\nWait and see or trade with stops either way.\n#FED #InterestRate decision may have a bearing?

Kevin Wash is ahead in the race to be the next FED Chairman, He shares the same views as the president, that is, that you can have a strong economy while still lowering rates. Warsh says he believes we are going to experience a boom in productivity because of AI, which will help bring down inflation.\nCould well be very positive #Crypto short term but may cause problems longer term if economy overheats as a result of lower rates.

Even #ETH looks horrible on the Monthly chart.\nLets see how the current $ETH candle finishes the month.

Please give me your Bullish take on this monthly $LTC chart.\nI am trying to put a Bullish hat on but I genuinely cannot find a shred of evidence for the #LTC Bull case\nEven LONG TERM support is broken although we would need to see the monthly candle finish for confirmation.

Crypto Update - Too early to enter imo.\n\n#Crypto sold off sharply today, led by #BTC and #ETH \nLarge liquidations hit leveraged long positions, accelerating downside moves.\n$Bitcoin briefly traded below key psychological support, increasing short-term fear.\n\nThis was a forced deleveraging move, not a slow fundamental unwind.\n\nMarket sentiment has dropped into extreme fear.\nTraders are defensive, reducing risk and leverage.\n#Altcoins are underperforming Bitcoin, reinforcing a risk-off environment.\n\nFear is high, which often appears near local bottoms, but volatility remains elevated

#Trump once again aired his grievances about not receiving a Nobel Peace Prize, saying he\'d "lost a lot of respect for Norway over the matter.\nBut most of the briefing was concerned with singing his own praises, darting from subject to subject for nearly two hours.\nIt was an "extraordinary inconsistent ramble. even by his standards" said Sky\'s US correspondent Mark Stone.”

Expecting further downward #BTC & #Crypto movement to come.
We have the #InterestRate decision in a week which MAY give new direction depending on future expectations BUT with #Trumps empire building sabre rattling, volatility may persist.

#LTC sitting precariously on long term support but some glimpse of a possible bounce coming from slight Hidden Bullish Divergence on this long term weekly chart.
Hodlers will likely hang on.
New longs are reasonable with stops below, as are potential shorts if support breaks.

The only thing I would add is.......
When it looks so CLEARLY BEARISH, its usually wrong.
So I will NOT attempt shorting #BTC or #Crypto, I will just step aside.
Often such strongly bearish looking setups lure too many into the short side and then the opposite happens.
WE DO NOT HAVE TO BE IN A TRADE EVERY TIME!

Why Crypto Is Down Today?
The combination of:
profit-taking,
weakening momentum,
leverage risks,
options expiry pressure,
broader risk-off behavior,
lack of new catalysts
Results in net selling pressure in #ETH as we see here and #crypto in general.

#BTC is looking very Bearish now with what appears to be completed abc correction higher and so we expect downward movement is the most likely outcome now and im pleased I closed long positions as a precaution last week.