JayT121

Bitcoin Weekly Bearish Signals. Likely to go lower

Short
BITFINEX:BTCUSD   Bitcoin

Today I will show some weekly Analysis which is showing many Bearish signals.
Firstly the RSI has a weekly bearish Divergence. This is a bearish indicator as we are likely to move lower. (Marked by purple arrows )

Secondly There is a bearish engulfing candle which indicates bearish momentum (Indicated by green arrow), you can find more about the pattern here: https://www.investopedia.com/terms/b/bearishengulfingp.asp
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.