BTC on the weekly chart is in a persistent downtrend for this year.
In recent weeks, a bit of a bear market rally has occurred and
stochastic RSI is now at or above 80 while the MACD has K and
D lines touching. The weekly candle is a red Doji.
I see this as about the same as the pattern of early April.
I conclude that BTCUSD's bear market rally is complete
thus setting up another swing short trade to be taken.
In recent weeks, a bit of a bear market rally has occurred and
stochastic RSI is now at or above 80 while the MACD has K and
D lines touching. The weekly candle is a red Doji.
I see this as about the same as the pattern of early April.
I conclude that BTCUSD's bear market rally is complete
thus setting up another swing short trade to be taken.