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shuqi0923
May 30, 2021 4:41 PM

Odds favor a new low Short

Bitcoin / U.S. dollarBitstamp

Description

For the strong breakout on May 19, usually there will be two legs down. The first leg has completed. Odds favor another leg down. Many bulls are willing to buy when there is a new low with strong buy signal.
Market is now in trading range. There will be strong price action after consolidation ends.
There are several resistances above. 1) it is the top the triangle. 2) EMA20. 3) 43000. 4) 47000. 5) 50000.



Comments
shuqi0923
For the past two weeks, there are no two consecutive green days. It means people are taking profit quickly. It is a sign the market doesn't yet have strong momentum going up.
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