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Shotokhan

BTC about to dump

Short
Bitcoin / TetherUS (BINANCE:BTCUSDT)  
Shotokhan Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Chart Patterns Trend Analysis Technical Indicators BTCUSDT btcdump
4
7
chartpattern trendanalysis indicator btcusdt btcdump
This is a bearish pattern and all indicators show clearly BTC price is losing momentum. First real support is the yellow dashed line. We're in for a little correction here, apparently 56k has a lot of sell orders to get filled.
Comment:
despite this attempt of breaking out upwards VLPR shows little few transactions on current price level, meaning the resistance there is still solid. I think price reached that level because of BTC.D going up.
RSI broke upward the bearish DIV but momentum indicators show the DIV is still in play. I wouldn't enter a long or a short right now.... let's just sit and wait.

snapshot
Comment:
apparently momentum indicators were wrong, BTC crossed that resistance and if current 4h candle closes above that price will enter the resistance zone in purple there. Still I wouldn't enter BTC now
snapshot
Comment:
I told you so, didn't I? I was just too early. Anyway, let's wait and see if this was just a little retracement or if there's still something more. Again, I still wouldn't enter the chart but certainly it looks healthier now.

snapshot
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