Exhausted Bulls! Quick Simple Analysis

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


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!!!
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