The way I see the charts this is a clear bearish case for BTC . BB squeeze is developing in the short direction. After a few weeks of gaining momentum it started it downward move. This can of course still repaint so we have to wait until the end of the week. If the short pulse fires, the BTC next down target is somewhere between the weekly 200 SMA and bottom wedge trendline (around 5k). This move ought to develop relatively fast (four to five weeks) since the halving is on the way. Also on the previous down move in 2018 the weekly 200 SMA held the price. We also just broke the 61 % Fibo level and a weekly 55 SMA , which are both bearish signs, confirming a next move down. I am not trading this move, just staying aside and watching the development. Play it safe.
Comment:
The pulse has run out, we are in a range again. Idea is off. We are going long...