Bitcoin looking bearish
Hello, I am back here with another analysis. My first analysis with BNB/USDT went well, as I called to short it, and BNB dropped in value.
Here, I am doing an analysis on BTC/USDT, and have reasons why I am bearish. As you can see, there is hidden bearish divergence. The RSI values were making lower highs, but the prices were making higher highs. Moreover, there is resistance of the RSI line shown in the graph. Also, the stochastic indicator is making lower highs, and is unable to break through the trend line. Moreover, we hit the 0.786 fibonacci level, and as I said in my last post, the 0.786 level is extremely difficult to break through.
Here, I am doing an analysis on BTC/USDT, and have reasons why I am bearish. As you can see, there is hidden bearish divergence. The RSI values were making lower highs, but the prices were making higher highs. Moreover, there is resistance of the RSI line shown in the graph. Also, the stochastic indicator is making lower highs, and is unable to break through the trend line. Moreover, we hit the 0.786 fibonacci level, and as I said in my last post, the 0.786 level is extremely difficult to break through.