Bitcoin Rejected From $6,600 – This May Get Very Bad…



Bitcoin has recently rejected and had a major correction from an insignificant level of resistance. The Bitcoin technical analysis in this video paints a dire picture …

43 Comments

  1. The worst thing that could happen for btc this fall/winter is if there is a large hack of some exchange. Or if a big country outlaws btc. Something akin to Mt Gox or bitfinex debacle.

  2. Problem I'm seeing is, these past weeks, volume is dropping and liquidity is tightening up at the same time. Not just the smaller derivative exchanges either. Doesn't help that the whale activity is never going to show on the books.

    Tough on silly shorts and fearful longs.

  3. We have tested this area too many times on the downside. My feeling is that there will be a major gap to the downside. If this happens btc is done for in the near and intermediate term. IMHO. Support will become resistance. I am not currently a holder of btc or other alts

  4. won't be over till 40% of miners pull the plug and the long term viability of bitcoin is in question. 5K will cascade the shutdown. Massive bounces as shorts cover on way down. Thats my logical theory anyway.

  5. I think its down to 5000 maybe 4500 . Before the ETF . I reckon they will announce early. Iam calling 20% Accepted 5% rejection 25% postponed . 50 % chance of a postponement , however i think it will be a tie. If Iam correct there are 4 bord members , and last time one was in favor. This would be as good as good as an approval as one would be imminent. 10 / 15k new years eve.

  6. I'm still very new here, so I hope no one trades based on my opinion. Jebb, you are saying that we had about a month of rally after each touch of 6k, and this time only a few days. What I am seeing is that each time we hit 6k, we didn't immediately rally. We saw a bounce for a short period and then another drop like we are seeing now before the rally upward. This can be seen between June 24 through July 12 & between Aug. 10 through Aug. 13. We didn't quite see 6k at begin of April, but between 4/01 – 4/06 we see this kind of pullback also before the rally. Maybe we can expect the same here before a possible rally to 6700-6800? Any feedback or comments on this would be much appreciated!! 🙂

  7. It's just noise, this 1h chart. Also, it was too early for another rally.. This downtrend ends right about ETF at the end of September. We need to look at the big picture here, at least bigger than 1h chart.

  8. Stop the technical analysis videos on crypto please. You and everyone else whit "technical analysis" YouTube channels have more faults then rights.
    This is not against you, i follow you for a long time and i like you, but technical analysis just dont work on crypto!

  9. Jebb, thanks for your technical analysis. I'm a subscriber and I enjoy your insights. I learn a lot through your content.
    I have a theory that I would like you to poke holes in. I think technical analysis (at this point) is going to be a bit of a mute point, just for awhile. I think btc is going to bounce around between $6100 to $6800 until the ETF and the institutional money gets all their ducks in a row and then it's going to moon like crazy. I think they are keeping the price around production costs so the eventual ETF will pass. It seems like everytime were about to break bullish above this zone, someone steps in and smacks it down. This is a good thing. Were all impatient and wanting btc to moon yesterday, but if it is as I think it is, you are absolutely right to be super bullish. BTC is about to sprout up, it will see mass adoption, it will hit a super high. This probably won't happen this year, but next year and the following will be awesome. I'd be very surprised if it breaks below $6000 for very long. Let's just hope the institutions get their stuff together soon, because this waiting is frustrating and creates a lot of fud. The small guys like myself make stupid trades in fud. Anyway, that's just my opinion. I'm not saying you're wasting time by doing technical analysis because if btc were not being manipulated, your analysis would be spot on, plus, we all learn a lot. Also, if people can do reliable TA on crypto, which is super hard to predict, think of how good we'll all be at predicting regular investments.

  10. I don't make predictions, I just look at charts and then decide to swing or not to swing.
    BTW we had similar bart pattern before the previous mini rally in July . Also your TA is very limited, you didn't even use EMA and RSI of different time frames.

  11. Interesting trade…to me and with the current level of shorts in the market it feels like the market is behaving the same way as it did in early april.sideways move with ups and downs and the bears talk up 3k and some even sub 1k before a huge short squeeze.interestingly,such a thing can easily break the descending wedge this time around.volume on the dips is not really confirming much conviction(ddopping as we move closer to 6k)will see how it plays out

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