A few key takeaways from this breakdown:
1. We were right above a key (meaning if we broke down, it could break down violently)
2. Our was losing momentum and went from a dark green bar to a light green bar (indicating sell pressure)
3. Our Extractor indicator was flashing 3 red diamonds in a row which is a STRONG sell signal while our Price Extractor indicator was near the top of it's BBs but not quite crossing out of them (more overbought indications)
4. Our Whales Buy-Sell indicator flashed a sell signal after all of this to confirm the downtrend
5. All of this combined, caused the breakdown you see before you
Our next is $51,614 followed by a strong support of $50,000. Currently we're starting to get reversal indications on the 1h, seeing how our Price Extractor is flashing an oversold signal but it's still too early to tell. The $54,300 level has now become resistance and I'm looking for us to break above that if we're to continue our uptrend.
If you have any questions about the indicators I used or would like to purchase the Whales Buy-Sell indicator or Extractor, please PM me :)