As we all know by now, we are not seeing any strong bull movement in BTCUSD at this moment.
BTC just dropped below 17k agian and a close on the weekly candle below the 17k level is a strong indicator for more downward swing.
the candle shape in terms of candle patterns on the weekly is a strong solid bearish candle with a small wick
if we see this pattern continue or hold till next week we could see a drop to 13k soon.
we also see a deeper dip below 20k the support level that kept the bull hope for a rebound alive .
we also saw a consolidation in BTCUSD SHOWING THAT THE NEXT MOVE WAS BEING THOUGHT OUT.
THE DROP TO 17K AND NOW 16K is clear sign that more people pull out there cash and also indicate that there is a greater change that
BTC is going to 13k or lower.
THE WEEKLY RSI SHOWS THE MARKET IS NOT OVERSOLD YET AND THE ADX IS STILL IN A STRONG BEARISH POSITION
THE ICHIMOKU IS STILL STRONG TO THE BEARS IN THE WEEKLY.
The candle patterns shops strong bearish candles with weak bullish small doji or spinning tops keeping things at this level.
the bold bearish move down could turn into a snap and crack if so we could see a rebound
but other wise not really
BTC just dropped below 17k agian and a close on the weekly candle below the 17k level is a strong indicator for more downward swing.
the candle shape in terms of candle patterns on the weekly is a strong solid bearish candle with a small wick
if we see this pattern continue or hold till next week we could see a drop to 13k soon.
we also see a deeper dip below 20k the support level that kept the bull hope for a rebound alive .
we also saw a consolidation in BTCUSD SHOWING THAT THE NEXT MOVE WAS BEING THOUGHT OUT.
THE DROP TO 17K AND NOW 16K is clear sign that more people pull out there cash and also indicate that there is a greater change that
BTC is going to 13k or lower.
THE WEEKLY RSI SHOWS THE MARKET IS NOT OVERSOLD YET AND THE ADX IS STILL IN A STRONG BEARISH POSITION
THE ICHIMOKU IS STILL STRONG TO THE BEARS IN THE WEEKLY.
The candle patterns shops strong bearish candles with weak bullish small doji or spinning tops keeping things at this level.
the bold bearish move down could turn into a snap and crack if so we could see a rebound
but other wise not really
