As i said yesterday, this candle was very important.
Why ? Because the 2W MACD never crossed down in a bull market (2013, 2015)
Unfortunately, the MACD has now crossed down. History is now obsolete,
BTCUSD
must show something different, something new.
Otherwise, we'll go in a bear market.
We're also losing the EMA21 support at the moment on the weekly.
If EMA13 manages to cross down EMA21, we'll retest the 7k2-7k7 range.
We have big support at 6k2.
Some positive signs..RSI is still above 50, MACD above 0 and DI+ above DI-, but for how long ?
I'm on the bearish side right now.
Why ? Because the 2W MACD never crossed down in a bull market (2013, 2015)
Unfortunately, the MACD has now crossed down. History is now obsolete,
BTCUSD
must show something different, something new. Otherwise, we'll go in a bear market.
We're also losing the EMA21 support at the moment on the weekly.
If EMA13 manages to cross down EMA21, we'll retest the 7k2-7k7 range.
We have big support at 6k2.
Some positive signs..RSI is still above 50, MACD above 0 and DI+ above DI-, but for how long ?
I'm on the bearish side right now.
Comment:
RSI is now below 50 on 1W
EMA13 very close to cross down EMA21
RSI is acting as resistance around 50 on 3D
Looks like we'll test 6k3 soon.
EMA13 very close to cross down EMA21
RSI is acting as resistance around 50 on 3D
Looks like we'll test 6k3 soon.
This scenario in the alt market makes me thing that it could happen to bitcoin too.
That would mean a big move in 2-4 weeks from now above the precedent 2W donchian high of ~14k