KryptonuQ
Short

Exhausted Bulls! Quick Simple Analysis

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi my friends!

Facts:

Head and shoulders did not play out. At the neckline bulls did not have the power to break even higher.
Shooting star candle followed buy a large red candle means a strong reversal sign.
We broke out from ascending wedge = bearish .
We are about to break 1 month bullish trendline (blue line). If we close below this daily that is a strong reversal sign also.
Daily MACD crossed = bearish .
RSI is bending down = bearish .
Increasing volume .

Target support 9.2-9.3k.

Thanks for reading.

***It is not a financial advice. I do not tell anyone to buy or sell bitcoin .***

Leave a comment if you have any question and leave a like if you found it helpful!
Comment: Sorry, I made a mistake. I wrote MACD instead of Stoch RSI.
Comment: Target almost reached. We should close below 10k daily to remain strongly bearish.
We had a big bounce from 9.4k. According to Stoch RSI we are strongly bearish: Daily cross, weekly cross is on its way. And we have great bearish volume. Keep it up bears!!!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out