- Nothing looks good for BTC on the 12 hour chart right now. As we can see using the Heiken Ashi, price is skirting candle body resistance for the past few days, current 12 hour candle is forming as red, MACD is pointing down, and RSI was oversold now entering below 70.
- The good news is the 3 day chart still looks positive, and that 12 hour cloud is thick so would expect to hold as support, suggesting a 12% downwards target, perhaps in an epic flashcrash or slow grind over the next couple days...
Traders will look for shorting opportunities. Perhaps aiming to recover some of the REKT liquidations due to yesterday's 8% intra-day volatility. Keep an eye on longer time-frames for overall market movements. Make the trend your friend.
Order cancelled:
Sorry had too many tabs open. The Chart is Chainlink not BTC.
Comment:
But the analysis for LINK remains.
