This_Guhy

Bitcoin Three Day Directional Index just got bearish

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
Fresh off the presses from the 3 day close. The current top and the top of early 2021 have a lot of similarities. Key for this idea are the bearish rising wedges which are confirmed by falling volume as the pattern continues. If this is going to keep going with the similarities we are going to see the red volume really begin to pick up now that the DI+ has crossed under the DI-. There is always a chance that this DI cross will not be maintained but that remains to be seen. I have not shown the ADX because with price in a consolidation/reverersl pattern the ADX is low. I am looking to use this DI+/- cross in conjunction with the chart pattern and volume to predict an increase in the ADX.

Linked ideas show broader bearishness in crypto.




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~Nathan Explosion
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