TheChartGuys

BTC Bears with Another Leg Down

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Not surprising to see another leg down as the last bounce attempt rejected 5 times from the top of the bounce.
The bounce just cooled off hourly and 4 hour RSI to give space for further downside.
EMA resistance on the 4 hour will be key for the bulls to look to shift momentum back in their favor.
Scouting for a daily higher low to form and give us a tightening equilibrium range.
Next support down is $6,000 as there is limited previous price level support.
Odds of a weekly bear flag will be favored as long as all the tops at $6,800 remain.
Risk to reward does not favor bearish entries down here for those late to the bear party.
Good chart. We have a similar bearish viewpoint:

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Thank you for your hard work! It is appreciated VERY MUCH!!
BTW, MAYBE you have a firefighter special pass into your TA Community ?? ;)
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Is this an ABC correction or the start of a new downward 5 wave structure? Any thoughts
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pwnsweet bdfulker2
@bdfulker2, that stuff doesn't exist.
+5 Reply
bdfulker2 pwnsweet
@pwnsweet, what stuff doesn't exist? Elliot wave count what do you mean?
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good stuff guys
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You guys, Philakone, and occasionally Josh Olszewicz are the only traders I follow these days, you're the pulse and barometer for the crypto sphere! Thanks bunches.
+2 Reply
mrsticker RotiWokeman
@RotiWokeman, Thanks for mentioning those other names. I'll check em out.
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Can u help me on joining your premium web site community? I been trying to get in for so long(((
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FirefighterTx cryptomizer
@cryptomizer,

Hey D, I am in the same boat ... I’ve been trying to get in but NO success!
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