On the surface, things look good for bulls, a major pump today. But look carefully, it was just retesting a major support now turned resistance and the daily candle seems like it will be rejected. 2 more hours and rejection is confirmed. A lot of other bearish signs, mainly now there is a big bearish divergence on the lower time frames, still under the 200ma down to the 2hrs time frame,and death cross imminent.
But I am not discounting a U turn upward from BTC, but just not right now, or tomorrow or maybe for a week and at worst a month. Keep your eyes peeled, the downward motion will not stop until an accumulation of reversal signals. Next targets is 7700, 7500 and even 7000 according to the Gann fan. This Gann fan is on a different pivot from my previous idea below. I like these fans because of just how price action respects the trendlines.
But I am not discounting a U turn upward from BTC, but just not right now, or tomorrow or maybe for a week and at worst a month. Keep your eyes peeled, the downward motion will not stop until an accumulation of reversal signals. Next targets is 7700, 7500 and even 7000 according to the Gann fan. This Gann fan is on a different pivot from my previous idea below. I like these fans because of just how price action respects the trendlines.
