Looks like Bitcoin is unable to break the $12,000 mark. Based only on Coinbase, there is a wall of at least 150-BTC at the $12,000 mark and the buyers are thinning out. If Bitcoin keeps playing between $11,700 and $11,850 buyer confidence will be disappear. Oscillators are neutral, and shorter time frames are showing sell. Watch out, once it goes, it goes fast. If sellers thin out and break $12,000 level, it'll shoot up towards $13,000 pretty quick. When comparing the last two highs of 26th June and 9th of July, the price shot up without hesitation. If you compare this bull run, the tip is already curving and seems to be heading down as if it already peaked.
- RSI is oversold on 4HR, same level as previous peaks of June and July.
- MACD is losing steam; curving tip/bearish
- Oscillators are neutral, short terms are all sell.
Order cancelled:
Bitcoin broke through $12,000 and should be on its way up to $13,000.
Comment:
Doesn’t look like Bitcoin was able to maintain its bull run. We could be heading back towards $9,000 level or lower.
Trade active:
Get out, Bitcoin should easily head below $9,000 at this point. The entire market is falling from stock market, commodities, and crypto-currency.