BTCUSD Gravestone doji...Gravestone of bulls? Back to 6.5K!
Hi guys!
Let me share my idea with you, I hope you find it helpful!
As you can see yesterday (february 20) we tested the mid-term bearish trendline as a resistence and it looks like we are bouncing back from here.
We did not close above the trendline which is a great sign for the bears. We also created a gravestone doji or a shooting star (the daily candle is between these two). It never mind now if we call it a gravestone or a shooting star since both of them are trend reversal signs. The red candle today is also a good confirmation of the reversal.
I would still be cautious with shorting, we have to close daily below our gravestone doji/shooting star. If it happens then it is very likely to keep going lower and my target level is around 6.5k at the long-term bullish trendline.
The hidden bearish divergence is still valid which means that we are continuing the mid-term bearish trendline.
The other good sign is that we also failed to close over the 0.618 fibonacci.
And the last bearish sign is that we also created a double top where the second one is a little bit lower and that means a trend reversal is very likely to happen.
I posted yesterday a longer publishment that I would recommend you to read!:)
Please leave a comment if you found it helpful or you have any question!
***It is not a financial advice. I don't tell anyone to buy or sell bitcoins, it is only my personal opinion***
Let me share my idea with you, I hope you find it helpful!
As you can see yesterday (february 20) we tested the mid-term bearish trendline as a resistence and it looks like we are bouncing back from here.
We did not close above the trendline which is a great sign for the bears. We also created a gravestone doji or a shooting star (the daily candle is between these two). It never mind now if we call it a gravestone or a shooting star since both of them are trend reversal signs. The red candle today is also a good confirmation of the reversal.
I would still be cautious with shorting, we have to close daily below our gravestone doji/shooting star. If it happens then it is very likely to keep going lower and my target level is around 6.5k at the long-term bullish trendline.
The hidden bearish divergence is still valid which means that we are continuing the mid-term bearish trendline.
The other good sign is that we also failed to close over the 0.618 fibonacci.
And the last bearish sign is that we also created a double top where the second one is a little bit lower and that means a trend reversal is very likely to happen.
I posted yesterday a longer publishment that I would recommend you to read!:)
Please leave a comment if you found it helpful or you have any question!
***It is not a financial advice. I don't tell anyone to buy or sell bitcoins, it is only my personal opinion***
Comment:
The huge red candle confirmed the trend reversal yesterday. We are moving down!
Comment:
10k level broken. Great job bears!
Comment:
Next target is to break the 9.5k level. It is a previous resitance which has become a support. Now we have to break this support.
Next target is to break the 9.5k level. It is a previous resitance which has become a support. Now we have to break this support.
We broke the short term bullish trendline. Good sign!