Immutable Goes Bearish After Weak Bounce (All Crypto Bearish)
2024-10-06

Immutable did pretty good in its last bullish cycle, nothing compared to Injective and FET but still pretty good. As with Bitcoin and everything else in this market, it went bearish in March 2024. It has been bearish since.

In August, after a major low a pull-back was present, we saw prices moving higher. This price bounce is ultra-weak, no volume and lacking bullish momentum, and is being reversed now.

After a very strong lower high, IMXUSDT is full red on the current session and moving below multiple major EMAs, including EMA55 and EMA89. It looks pretty bad.

It moved up together with Bitcoin, it will move down together with Bitcoin.

➖ FETUSDT bearish.
➖ INJUSDT bearish.
➖ IMXUSDT bearish.
➖ BTCUSDT bearish.

They are all one.

➖ ADAUSDT bearish.
➖ DOGEUSDT bearish.
➖ USDT.D bullish (inverse relation).

I shared charts for all these.
I can continue:

➖ SHIBUSDT bearish.
➖ XRPUSDT bearish.
➖ ETHUSDT bearish.
➖ TRXUSDT bearish.
➖ BNBUSDT bearish

It goes on and on.

Seven months going down, almost straight down, and some people are still under the impression that the market is going up. The top happened in March, that was already a long time ago.

Yes, we are going bullish, but only after the low is in.
Bullish at the bottom, bearish at the top.

Thanks a lot for your continued support.

Namaste.