BTCUSDT: Bears commencing the start of a Dump 🐻Break 40k first
This is just my analysis and predictions on BTCUSD. Do your own research.
Bitcoin's bull run from Mid-July to Early September gave us an 80% rise in price. But that bull run could be over. There are many bearish signals that indicate the end of the bull run.
1. There is a confirmed bearish Head And Shoulders(H&S) Pattern, confirmed on the Sept. 21 candle. The confirming candle was accompanied with very high volume.
2. Lower Highs and Lower Lows may mean a downtrend in price.
3. RSI Bearish Divergence at the Peak of the bull run, strengthens the possibility of a dump.
4. 200 Day MA Turned into resistance. Broken on the September 20 candle and became a confirmed resistance 4 days later
BTCUSD needs to break the 40k support if this bear run will truly start. 40k is a strong number. Let's see how this goes.
Thank you for reading! Like this post and follow me if you want more analysis!
Bitcoin's bull run from Mid-July to Early September gave us an 80% rise in price. But that bull run could be over. There are many bearish signals that indicate the end of the bull run.
1. There is a confirmed bearish Head And Shoulders(H&S) Pattern, confirmed on the Sept. 21 candle. The confirming candle was accompanied with very high volume.
2. Lower Highs and Lower Lows may mean a downtrend in price.
3. RSI Bearish Divergence at the Peak of the bull run, strengthens the possibility of a dump.
4. 200 Day MA Turned into resistance. Broken on the September 20 candle and became a confirmed resistance 4 days later
BTCUSD needs to break the 40k support if this bear run will truly start. 40k is a strong number. Let's see how this goes.
Thank you for reading! Like this post and follow me if you want more analysis!
