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ijiro
Jan 11, 2021 12:42 AM

BTCUSD Likely pullback down to previous resistance Short

Bitcoin / United States DollarCoinbase

Description

12H closed below 10 SMA which it has not done since 22k in December. Stochs, MACD, RSI are all crossing down and I would suspect price to come down to the 12H 21 EMA at the minimum or previous breakout resistance at 34k. Likely short term support and bounce there.

Comment


To note: 2D candle has closed below the top side Bollinger bands which suggests the strong trend upward is potentially weakening. I would take take caution here.

Comment


Expect more downside if the next 12H candles close like this.

Comment


Stochs will need to hold this trendline or further downside is expected.
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