BTC is showing strong bearish sell signals at the moment:
- An early sign of a weakening bullish trend could be seen in mid-May
- A strong bearish divergence has formed
- Bearish volume is high
If the trend reverses, support could be found at around $6400 and $5400. As the price shot straight through $6400 last time, this support level might break just as easily downwards.
Even if a reversal does not occur and price is going higher, a reversal is prone to happen in the very near future.
- An early sign of a weakening bullish trend could be seen in mid-May
- A strong bearish divergence has formed
- Bearish volume is high
If the trend reverses, support could be found at around $6400 and $5400. As the price shot straight through $6400 last time, this support level might break just as easily downwards.
Even if a reversal does not occur and price is going higher, a reversal is prone to happen in the very near future.
Comment:
A possible bull trap has just formed:
