BTC-USD: Daily Double Top in formation, Bear strike soon ??
Hello everyone;
We saw nice drop in BTC price yesterday, however bears still need lot of strength to show any confirm signs for the next big bearish move.
Bull status:
Yesterday bulls managed to absorb the blows from bears and held BTC above not only 21EMA Daily but also 10SMA Daily (This is a pretty good signs of bullish strength). Bulls also got the SMA Daily Golden cross on their side now. Today’s close will be important one to see whether bulls manage to hold these key moving averages.
Bear status:
Bears now got only few more chances to show their strength or they will get crushed in the next parabolic move. We do see some key indicators in overextended zones, plus bears managed to hold key resistance levels as well. But these levels have been tested repeatedly by the bulls and those levels are getting weaker, hence bears are losing time to strike. If BTC gets back in this pocket then I do not think it will hold resistance again and I will expect break above.
Daily Shepherd is slowly turning south, we could see confirmation by today’s close.
For me bearish confirmation levels are, 1) Confirm break of Daily 21EMA and 2) break below the 8980-9100 zone. Once this are taken BTC have no major support till 8400-8100 area.
Check out my discord group with link below; there is lot more info there :)
Happy and safe trading…
Chao…
We saw nice drop in BTC price yesterday, however bears still need lot of strength to show any confirm signs for the next big bearish move.
Bull status:
Yesterday bulls managed to absorb the blows from bears and held BTC above not only 21EMA Daily but also 10SMA Daily (This is a pretty good signs of bullish strength). Bulls also got the SMA Daily Golden cross on their side now. Today’s close will be important one to see whether bulls manage to hold these key moving averages.
Bear status:
Bears now got only few more chances to show their strength or they will get crushed in the next parabolic move. We do see some key indicators in overextended zones, plus bears managed to hold key resistance levels as well. But these levels have been tested repeatedly by the bulls and those levels are getting weaker, hence bears are losing time to strike. If BTC gets back in this pocket then I do not think it will hold resistance again and I will expect break above.
Daily Shepherd is slowly turning south, we could see confirmation by today’s close.
For me bearish confirmation levels are, 1) Confirm break of Daily 21EMA and 2) break below the 8980-9100 zone. Once this are taken BTC have no major support till 8400-8100 area.
Check out my discord group with link below; there is lot more info there :)
Happy and safe trading…
Chao…
