4 hour / short term bearish indicators

Bitcoin / U.S. dollarBitstamp

Description

⋅ Jan 2, 2018 11:02 PM

Bullish falling wedge idea I posted previously worked out well, almost reached the flat kumo target. Unless we blast through that target (always possible with bitcoin 9.97% ) there are a fair few short term bearish indicators forming.

1/ bear divergence on RSI (price lower high, RSI higher high)

2/ evening star forming

3/flat kumo emerging at around $13,700 (flat kumo = magnet)

None of the above is confirmed yet. Will be watching closely for signs of a pullback to the 0.5 fib ($14,000ish) and/or flat kumo ($13,700ish).