- Bitcoin clinging on to the lower trendline of the rising wedge we have identified. - Look for support levels on a breakdown - $16919 is an important level - The breakdown measure move is around $16374 - If we do break down past $16919 look for a bearish retest and a possible short opportunity - Daily Indicators - Stoch RSI, RSI and MAC D looking bearish. If the MAC D crosses down we could see some strong movement down from Bitcoin. - Major stock markets are all down today - SPX, ES1 and Nasdaq (the ones that we follow) - USDT dominance increasing suggesting that traders are moving back into USDT - DXY also on the move after testing major support - if the DXY increases, Bitcoin generally decreases - Keep an eye on your alt positions. With BTCD increasing and BTC decreasing - Alts are getting REKT.
Be patient and stick to your strategy!
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