Let's fast play this super bearish analysis on Bitcoin. MACD
got rejected and doesn't have strength to go upside.
RSI is made lower high which is very bearish on this time frame.
It's several times rejected in the middle of channel which means bears are in game. Triple top formed with bearish divergence which is also strong strong bearish signal. In my opinion B wave has definitely formed. Volume also decreasing which is also strong bearish signal.
For now I can't see any bullish thing on Bitcoin. I'am going to short this because there is so much bearish confirmation. My target is 200 MA on 4 hour time frame. Stop loss is above middle of the channel. If you have any question feel free to DM me.
If you like my trade and analysis make sure you click that like and follow button. Thanks!
got rejected and doesn't have strength to go upside.
RSI is made lower high which is very bearish on this time frame.
It's several times rejected in the middle of channel which means bears are in game. Triple top formed with bearish divergence which is also strong strong bearish signal. In my opinion B wave has definitely formed. Volume also decreasing which is also strong bearish signal.
For now I can't see any bullish thing on Bitcoin. I'am going to short this because there is so much bearish confirmation. My target is 200 MA on 4 hour time frame. Stop loss is above middle of the channel. If you have any question feel free to DM me.
If you like my trade and analysis make sure you click that like and follow button. Thanks!
Trade active:
As predicted, that resistance in the middle of channel is so strong. Expecting heavy volatility.
Trade active:
I don't think that channel will hold. If the channel be broken expecting fast drop.
Trade active:
Channel has been broken. Expecting retest than hard drop!
Trade active:
Nice drop, as I said. Expecting little retrace on 3900 but we don't have to worry about it. My target remains the same. If you have any question leave a comment or send me a message.