Bearish divergence on all major time frames.
We will test he bottom($6500 - $6700) again before a new short bull run.
One more reason which supports my above statement is the MACD which is close to the top white dotted line indicates that we need to go down close to the dotted line at the bottom on the MACD.
The 4hr MACD is forming a symmetrical triangle since the ATH and is due to break out soon. May be this month or next month.
Reason for new short bull run is because of the news surrounding new institutions interested in the crypto market.
All said and done, there are a lot of bull and bear traps in the market these days.
Trade Safely and smartly.
Regards,
CryptoSync
We will test he bottom($6500 - $6700) again before a new short bull run.
One more reason which supports my above statement is the MACD which is close to the top white dotted line indicates that we need to go down close to the dotted line at the bottom on the MACD.
The 4hr MACD is forming a symmetrical triangle since the ATH and is due to break out soon. May be this month or next month.
Reason for new short bull run is because of the news surrounding new institutions interested in the crypto market.
All said and done, there are a lot of bull and bear traps in the market these days.
Trade Safely and smartly.
Regards,
CryptoSync