BTCUSD - Tell Tale Signs of a Bearish Continuation
Tell tale signs that the Bitcoin markets may see further correction from current price levels:
1. Potential double top bearish pattern (circled).
2. RSI has receded from breakout and back below resistance trendline.
3. Wave traders should take into consideration that the "C" wave has not yet been found.
4. The bull flag is too obvious and likely be a trap.
Good luck!
1. Potential double top bearish pattern (circled).
2. RSI has receded from breakout and back below resistance trendline.
3. Wave traders should take into consideration that the "C" wave has not yet been found.
4. The bull flag is too obvious and likely be a trap.
Good luck!
Comment:
No surprises there on the bearish continuation that has begun. To those who are hoping for 10k to hold, don't. The broad consolidation on Bitcoin needs to reach deeper and the same goes for alts, unfortunately. We can see that price is clinging to the Ichimoku cloud for support as we speak but once that give way, 10k won't hold.
Comment:
The support level at 10k broke as anticipated. Dynamic support is building up at around 9800 - 9850 so perhaps we may see a small bounce from there. More details have been shared to my premium members.
Comment:
See that small bounce from 9850 and price dived deeper right after? There is still hope for Bitcoin, check out my latest forecast!
