Today’s chart update will be on the chart, which has an open gap that with a high degree of certainty will get filled.
Points to consider,
- Trend topping out
- Structural resistance hit
- being tested
- Stochastics projected down
- approaching support
- Increase in bear
- EMA’s crossing
The trend seems to be topping out as BTC has evident climax bars at a very key technical level, the structural resistance. The is currently being tested, must hold for a confirmation of the S/R flip.
Stochastics is currently projected downwards, can stay in lower regions for an extended period of time, however lots of stored momentum to the upside. is approaching its support, in neutral territory, this support will help determine direction of the trend.
There is a clear influx of bear , signalling that seller are currently in control as price failed to break resistance. The EMA’s are on the verge of crossing if current does not hold.
Overall, in my opinion, BTC will fill the open gap sooner rather than later, this is very evident in historic price action.
What are your thoughts?
Please leave a like and comment,
“Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” Yvan Byeajee