Bitcoin is showing some Strong reversal signs for at least short-term drop.
Let's look at all those points that might be pointing towards a pullback or short-term drop for BTC -
1) Shooting Star or Inverted Hammer on Weekly of Bitcoin and on same time Bitcoin went up with decreasing and low volume which is VERY WORRISOME :-
2) Head & Shoulder on Hourly :-
3) Potential Completion of Wave 1 in Bull case for BTC :-
4) Potentially Irregular running flat or maybe Expanded flat possibility for Bitcoin :-
5) 10 Years Yields might be looking bullish for at least short term and might be going upto 2.4/2.5 and touch highs of downward channel :-
6) US Dollar also looking somewhat bullish for short term :-
7) Big Money doesn't have good reasons to buy Bitcoin at high levels.
8) This is Earnings season for market and especially this week has big companies earnings so you never what might happen.
I am creating this post to raise some points that might be valid for bear case for Bitcoin for short term. Feel Free to share your thoughts in the comment section below.
However, I would love to be wrong as i am long as well for long term and would love if Bitcoin continue it's Bullish run as it would be better for all of us.
In the end, stay safe. And Enjoy everyone.
Let's look at all those points that might be pointing towards a pullback or short-term drop for BTC -
1) Shooting Star or Inverted Hammer on Weekly of Bitcoin and on same time Bitcoin went up with decreasing and low volume which is VERY WORRISOME :-
2) Head & Shoulder on Hourly :-
3) Potential Completion of Wave 1 in Bull case for BTC :-
4) Potentially Irregular running flat or maybe Expanded flat possibility for Bitcoin :-
5) 10 Years Yields might be looking bullish for at least short term and might be going upto 2.4/2.5 and touch highs of downward channel :-
6) US Dollar also looking somewhat bullish for short term :-
7) Big Money doesn't have good reasons to buy Bitcoin at high levels.
8) This is Earnings season for market and especially this week has big companies earnings so you never what might happen.
I am creating this post to raise some points that might be valid for bear case for Bitcoin for short term. Feel Free to share your thoughts in the comment section below.
However, I would love to be wrong as i am long as well for long term and would love if Bitcoin continue it's Bullish run as it would be better for all of us.
In the end, stay safe. And Enjoy everyone.
Comment:
This Bearish Idea for moment being is mostly negated and invalidated by BTC. But Beware 57740 Break would Push BTC to 53-55k at least
