Monday started very stormy for the crypto market.🔥💥⚡️📉
And it showed that not only Elon Musk can manipulate the market. 😆 And while waiting for positive news, a random fake can create a storm in the desert. What happened today, when Mr. Bitcoin flew from 27.9k to 30k. The truth came out within 5 minutes, regarding BTC-ETF, and the price returned back, from where...
Signs and patterns are VERY bearish pointing towards 25K
-Bitcoin Pattern (Parallel channel) extending as expected and volume is going lower
-some other indicators showing sign of bearish momentum and even a bear flag has been formed on btc (details on video)
-SPX signaling for a pullback as well thus downside could be ugly if happens.
-The H&S is still in play...
Technically both assets seem to be exhausted and a trend reversal is imminent. From the Looks of the MACD Indicator, we are in the early hours of a bear market initiation and we need to be prepared for exchange power outages and whatnot. Please DYOR and Happy Trading. Hit the like if u agree and best of luck trading.
