BTCUSD
In our 15 minutes time interval the trend was in a descending triangle . Trend has already tested to brake the support 2 times before and finally manage to brake on the 3rd try. Tenkansen crossed the KinjunSen downwards in the cloud as a medium sell signal. Leading clouds is red and getting thick. Price is below Kinjunsen. Chinkou span below everything hanging in the space as a confirmation of the sell signal.
We already tested the resistance between 7200~7100 and was unable to breakout. Daily charts also shows dark clouds ahead in a descending trend.
Though RSI and StockRSI is upwards It will try to go back to Kinjunsen and will try to break the resistance to gain some altitude. What do you think? Is this a retracement or initiating a downtrend.
Next support is around 6860.
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Educational purposes only. Not for live trade.
Comment:
After breaking the strong support 6870 it is still going down.