If BTC fails to get back inside the red triangle to continue the upward momentum, it is possible BTC will go to 37.5k and retest the lower support levels.
After successful retest of lower support we should see the price climb back up quickly again.
After successful retest of lower support we should see the price climb back up quickly again.
Comment:
4 Hour Chart - 20 Day EMA has dropped below 50, 100 and 200 EMA Levels.
Comment:
Some more bearish signs have been noted:
1) 4 Hour Chart - Lower lows have been created.
2) Daily Chart - Today's daily candle has also formed a lower low.
3) Daily Chart - The 20 Day EMA is looking to cross below the 100 and 50 Day EMA's which is likely to happen within 24-48 hours.
4) Daily Chart - The 200 Day EMA is proving to be too strong of a resistance thus far.
1) 4 Hour Chart - Lower lows have been created.
2) Daily Chart - Today's daily candle has also formed a lower low.
3) Daily Chart - The 20 Day EMA is looking to cross below the 100 and 50 Day EMA's which is likely to happen within 24-48 hours.
4) Daily Chart - The 200 Day EMA is proving to be too strong of a resistance thus far.
Comment:
✅ TARGET 1
Comment:
✅ TARGET 2
Comment:
✅ TARGET 3
Comment:
50 Day EMA has just crossed below 200 Day EMA - the dump is likely to continue.
Comment:
Support found at $39k. Continuing to hold short position.
Daily Chart: 20 Day EMA has crossed below 100 Day EMA.
Daily Chart: 20 Day EMA has crossed below 100 Day EMA.
Comment:
Short still remains open as all signs are bearish.
4 Hour Chart - 20 Day EMA is being rejected by 50 Day EMA.
4 Hour Chart - 20 Day EMA is being rejected by 50 Day EMA.
Comment:
Daily Chart: 20 EMA is looking to drop below 50 EMA.
Continuing the short trade until Target 4 or until a reversal in direction. Daily timeframe does not look ready yet though.
Continuing the short trade until Target 4 or until a reversal in direction. Daily timeframe does not look ready yet though.
Comment:
4 Hour Chart: 100 EMA rejected by 200 EMA.
Daily Chart: 20 EMA rejected by 50 EMA.
$37,500 might be good buy zone which is starting to look like a good position for long. The target for long from here would be $51,400.
Daily Chart: 20 EMA rejected by 50 EMA.
$37,500 might be good buy zone which is starting to look like a good position for long. The target for long from here would be $51,400.
Comment:
4 Hour Chart: Bear Flag + Head & Shoulders forming + 200 EMA has also rejected the 100 EMA.
We should hit the 4th Target soon because 4 Hour time frame is running out of gas now.
We should hit the 4th Target soon because 4 Hour time frame is running out of gas now.
Trade closed: stop reached:
Stop Loss triggered at Target 3.
Comment:
✅ TARGET 4
