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.***
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Sorry, I made a mistake. I wrote MACD instead of Stoch RSI.
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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!!!