TheChartGuys

BTC Bulls clinging to a thread of short term hope

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Double bottom on the daily as it was clear bulls were intentionally defending this support overnight.
We are still weak with 4 hour lower highs and potential bear flags however, all EMAs resistance.
We will either start to turn EMAs on the hourly and 4 hour into support... or break down today.
The momentum continues to favor the bears after the Tether FUD.
Another leg down will have us back in daily oversold conditions shortly.
Also note the daily RSI tight pattern has broken bearish , another signal that favors bears.
LTC will be back to the most oversold name on the daily chart out of the major players.
Still a downtrend, bears still in control, and I still have little to no interest trying to play as a bull with so many bear flags out there.

Comments

We are going up now...

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Well done. The alts have been crushed and there should be some huge plays when BTC finally trends up.
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MrRenev wabruton
@wabruton, *if*
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m5b11 MrRenev
@MrRenev, we all no its never coming back
Reply
@MrRenev, *when*
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Thank you!
Are you still holding your GBTC position?
Reply
Thank u!
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