Dear crypto aficionados, friends, lovers, haters, longers and shorters,
the month of may has come, we were expecting the downtrend and here we are. It s like winter and already cooling all the bulls spirits.
Bears with their coat are much much stronger and are defeating the frozen bulls.
Now to the technical, we can see that BTC is still inside a very clear down channel, in the past days tried several times to break through without any luck.
The uptrend momentum has failed and now we are facing the downtrend conversion. RSI is now bearish and the MACD on the daily chart is overbought with a clear sell sign.
During may we will probably face a big down correction and we will find the stability by the begin of summer, expecting an healthy growth while everybody is in vacation.
So very probable a downtrend in the next hours.
Stay tuned and like, share comment if you enjoyed the TA.
*this is just my opinion I'm not a professional advisor! Make your choices wisely and manage your risks!
the month of may has come, we were expecting the downtrend and here we are. It s like winter and already cooling all the bulls spirits.
Bears with their coat are much much stronger and are defeating the frozen bulls.
Now to the technical, we can see that BTC is still inside a very clear down channel, in the past days tried several times to break through without any luck.
The uptrend momentum has failed and now we are facing the downtrend conversion. RSI is now bearish and the MACD on the daily chart is overbought with a clear sell sign.
During may we will probably face a big down correction and we will find the stability by the begin of summer, expecting an healthy growth while everybody is in vacation.
So very probable a downtrend in the next hours.
Stay tuned and like, share comment if you enjoyed the TA.
*this is just my opinion I'm not a professional advisor! Make your choices wisely and manage your risks!