Signs of weakness:
- Tenkan Sen crossed Kijun Sen to the downside (bearish cross when conversion line crosses base line to the downside)
- Candle broke into the Kumo Cloud (couldn’t find support anywhere above it, not even on Senkou Span A)
- Big red bearish volume candles
- MACD crossing the 0 line to the downside
If we can’t find support on Senkou Span B at $10,398 we will continue our way down to the 200 EMA and hope to find support there at $ 9,777.
- Tenkan Sen crossed Kijun Sen to the downside (bearish cross when conversion line crosses base line to the downside)
- Candle broke into the Kumo Cloud (couldn’t find support anywhere above it, not even on Senkou Span A)
- Big red bearish volume candles
- MACD crossing the 0 line to the downside
If we can’t find support on Senkou Span B at $10,398 we will continue our way down to the 200 EMA and hope to find support there at $ 9,777.
Comment:
As expected, the meltdown continues. We are currently sitting at $10,749.25