On the Bear side (4h timeframe)
We see that every time BTC comes close to the limit of the descending channel drawn on the screenshot below in white BTC falls sharply. On the BTCUSD pair we did not brake the RSI trend (yet) but on the pair XBTEUR on Kraken BTC did already revealing a sell signal.
BTCUSD 240
XBTEUR 240
On the Bull side (daily timeframe).
The mini up trend we see for the last days could eventually continue but I am not convinced. No breakout of the RSI down trend but we are close to break it (see screenshot below). Breaking it would reveal a buy signal. Nevertheless we had a very good news from the SEC recently that did not wake up the bull.
We see that every time BTC comes close to the limit of the descending channel drawn on the screenshot below in white BTC falls sharply. On the BTCUSD pair we did not brake the RSI trend (yet) but on the pair XBTEUR on Kraken BTC did already revealing a sell signal.
BTCUSD 240
XBTEUR 240
On the Bull side (daily timeframe).
The mini up trend we see for the last days could eventually continue but I am not convinced. No breakout of the RSI down trend but we are close to break it (see screenshot below). Breaking it would reveal a buy signal. Nevertheless we had a very good news from the SEC recently that did not wake up the bull.
Trade closed: target reached