Hello everyone,
It is beautiful to see how bitcoin is still having its bearish divergence on the daily showing a weakening of the trend. For now BTC is holding its short term trend line which, as of right now, lines up very nicely with the 21 day EMA .
I think that a daily close under the 21 EMA as well as under the short term trend line , could result in a downwards rally to the 4850 to 5000 dollar levels (my box).
Looking at the chart I see a lot of things that look like the failed rally in 2015 and thus I'm feeling bearish TA wise. I'm also feeling bearish when I listen to the little bearish feeling in my stomach, but...
I see that a lot of the traders are starting to turn bearish and as a contrarian you shouldn't follow the herd.
again, I'm keeping an eye on the trend line and the 21 EMA . if they break and the price breaks my little box of support, I assume Bitcoin to set a higher low around the 4000 dollar level.
Good luck!
PGrijpink
It is beautiful to see how bitcoin is still having its bearish divergence on the daily showing a weakening of the trend. For now BTC is holding its short term trend line which, as of right now, lines up very nicely with the 21 day EMA .
I think that a daily close under the 21 EMA as well as under the short term trend line , could result in a downwards rally to the 4850 to 5000 dollar levels (my box).
Looking at the chart I see a lot of things that look like the failed rally in 2015 and thus I'm feeling bearish TA wise. I'm also feeling bearish when I listen to the little bearish feeling in my stomach, but...
I see that a lot of the traders are starting to turn bearish and as a contrarian you shouldn't follow the herd.
again, I'm keeping an eye on the trend line and the 21 EMA . if they break and the price breaks my little box of support, I assume Bitcoin to set a higher low around the 4000 dollar level.
Good luck!
PGrijpink