Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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Just something I noticed as I've been following the 377EMA and the 200SMA (thanks to Eric Crown). This is more of a general market trend and not necessarily a price prediction.
I've identified 3 fwactals(!) on the 2 hr time frame, with a change of behavior on the 3rd one.
Previously, BTC would make a new high, and then drop below the 200SMA and grind out between the 377 EMA , before popping up above it, and then making a newer higher high. This pattern has now changed, Bitcoin has failed to make a higher high after rebounding and grinding off the 200SMA.
To me, along with the RSI and Stoch crossing down on this time frame, this parabolic move is beginning to look weakened if not stalled completely.