I think we still go down but we can still get the big short if we missed it :) there is a trend from above that is clearer on smaller timeframe but tradingview doesn't allow to publish in those timeframes so... yeah the blue trend is there and The Red brush is what I think possibly will happen.
BTC is trying hard to break above the 21 MA. Once it breaks above this MA then we may possibly see BTC reaching $68k to $70k.
If BTC fails to hold the current support level and breaks below the lower trendline then we may see BTC dropping to $60k or even lower.
Key points to monitor will be:
1. The daily close above $65k.
2. BTC breaking above the...
BTC just hit its trend and apparently going up to one of those green or yellow lines and then dump a bit, we must see the next reaction, I think it will be its top from now on until it goes to at least to 47k range, it might go even below 29k and then goes up...
This is a bearish pattern and all indicators show clearly BTC price is losing momentum. First real support is the yellow dashed line. We're in for a little correction here, apparently 56k has a lot of sell orders to get filled.
BTC on daily timeframe rejected from fibonacci (0.65 i-e 52244) we may see that level once again and then there will be huge dump, RSI show Bearish Divergence on daily timeframe, volume is still in alarming situation.
so be safe with your trade and don't forget SL.
In 1d Chart RSI show bearish divergence, volume continuously decreasing, MACD is also giving bearish divergence and BTC get rejection continuously from 49k and 50k region, BTC greed index is 72 which show Greed so final verdict is that be prepare for huge dump.
On 1D chart RSI showing bearish divergence, MACD is also showing downward moment now on 4h chart we are almost in completion of Elliott correction wave(wave B i-e will be complete around 50k) then dump will expect to 30k region.
Found another Head and Shoulders pattern on 4h this time! If we got a 4h close below the neckline i.e. around $47000, we can see the price at $46600 which is 100 Exponential Moving Average in 4h timeframe. I am expecting a price pullback from this level to retest the neckline of Heads and Shoulders.
If the retest is done successfully, on breaking the previous...
by analysing the 4h chart the btc/usd chart is moving toward the support of around 33k , then the price could bounce back and have some upward relief rally , but my concern is that if we break a level around 30k , our bull market is coming to an end .
30k level is very important to hold ......