BTCUSD on the monthly we see a few signals that was strong indicators for a drop last year in may.
we see a huge shooting star followed by a retest and drop on the monthly level.
we also see that
RSI is at 45
ADX is still losing steam
ichimoku still kinda bullish but with strong turning signals interims of the tenkan and kujin
price action indicate strong bearish power and heavy neutralization of bulls'.
the current consolidation could be a pit stop for the next move.
if we see a pullback to 25k and a break above 30k than i would say we have more bullls in the market
but at this point we are in a pressure pot for what direction BTCUSD is gonna go to.
at this point it looks like the market is in favor of the bears but if we don't break below the 17k mark definitively
i would place trades for long term with caution
good idea is to look for a bulllish entry if possible as time goes on
if we see a break below 17k look for a possible shorterm bearish entry on the daily time frame.
was predicted in 2021
we see a huge shooting star followed by a retest and drop on the monthly level.
we also see that
RSI is at 45
ADX is still losing steam
ichimoku still kinda bullish but with strong turning signals interims of the tenkan and kujin
price action indicate strong bearish power and heavy neutralization of bulls'.
the current consolidation could be a pit stop for the next move.
if we see a pullback to 25k and a break above 30k than i would say we have more bullls in the market
but at this point we are in a pressure pot for what direction BTCUSD is gonna go to.
at this point it looks like the market is in favor of the bears but if we don't break below the 17k mark definitively
i would place trades for long term with caution
good idea is to look for a bulllish entry if possible as time goes on
if we see a break below 17k look for a possible shorterm bearish entry on the daily time frame.
was predicted in 2021
