CryptoMoe81

BITCOIN (#BTC): Bulls are exhausted, $7K level is coming

Short
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin analysis update is here. My outlook remains bearish . So, let me to explain to you why...

> 4H = Bearish = BB narrow, price below Basis, one retest of the bottom of the channel. RSI decreasing, Level 38. MACD histogram bearish + bearish crossover.

> 1D = Bearish = Since the Bitcoin was rejected by $9K level, it still decreases. BB's channels remains narrow, but Bitoin dropped below Basis line. Previous two candlestick shows rejection of this level. RSI going down and holds below Level 50. MACD histogram bearish .

> 1W = Bearish = Doji closed the previous week and this week is directed by bears. Current week seems to be close by Candlestick closing below the previous candle's low. Previous market structure will be broken. That is bearish sign. RSI dropped below Level 70 and heads to the south. MACD histogram is bearish . OBV indicates decreasing buyers interests.

> Summary = I'm looking forward to $7.0K - $7.2K

Comments