We are getting close to a high resistance zone in 7600-7650 area. Short term bearish wedge and midterm downtrend line converge, and the loss of momentum is obvious too. A drop is very likely to happen, targeting 6800 zone which wasn't reached in the last drop and it's needed to fulfill fibos and a healthy retracement.
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Wedge broken downwards!! Good time to open shorts at pullback
more divergences. and check out this fractal. i used the preceding fractal to predict the price drop of the last top within 1 hours from 36 hours prior!
AzeeKhalid
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@MilkBread, do you still BTC May drop ?
Because on daily we are bullish
MilkBread
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@AzeeKhalid, as you sure we did a small drop. I had a theory it would be too perfect bouncing off the channel resistance and thought the whales would capitalise on a fake breakout, especially if we still want to consider the 6th of June a signifcant date. I am watching the cmf today to see if the selling pressure and price on the 1hr continues diverging. It has a slight and steady divergence but still continues the up and down of each candle.