Hello friends, today you can review the technical analysis idea on a 1W linear scale chart for Bitcoin (BTCUSD).
The chart is self-explanatory. A recent Gravestone Doji Candlestick was printed indicating a bearish possible trend. There is also the concern with the bearish divergence comparing Price to RSI and MACD. Lastly, I showed the Fibonacci Retracement with the 1.618 level coming around 10K-11K, which is also a heavy traded area on the VPVR.
This is the weekly chart so have some patience and until the chart shows something otherwise, the BTC price is looking bearish.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Gravestone doji happens during bullish to show sign of reversal and usually has no body or very little body. This looks more like shooting star as it happens and occurred near bottom.
MillionaireEconomics
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@Vestige, I can see that as well if this is the bottom?
My outlook :)