BTC Daily Analysis: Continued Downtrend

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
BTC appears to be in a continued downtrend to fill the gaps at $3740, a continued move as a result of momentum wold see $3703 re-tested with a possible wick down to $36XX. 

What do the charts say?


  • Surprise momentum from New York Trading hours and Asian trading hours could see a wick above the 15MA above $3850, before a continued downtrend.

  • On the higher time frames, the RSI Stochastic has crossed-over illustrating that a downtrend is more than likely, with a continued dump lower to $3703 possible. 
    Accumulation during the month of december has continued, with it possible that all retail traders already deciding that they are in a trade and unlikely to trade the BTC pairs whilst it is in a continued downtrend. 
    volume gap at $374X will likely be filled, as a result of this and continued momentum it is more than likely we will see a retest of $3606, before a bounce up. 
    The latest positive move up following London trading hours and Asian trading hours close illustrates that there was a reversal at $3826, indicating we will not go above that unless there is enough positive momentum. 
    Judging based on the 15MA acting as a temporary resistance, with BTC each time testing it before falling, it is likely that it will not be tested today. 
    Nouvive Says: BTC is currently in a continued down-trend more than likely to see a bounce at $36XX - most likely $3649 or $3672.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out