Magicpickle

Magicpickle

On the 45 min, we're currently in a negative price channel. Following the 45 min stochRSI, we're gearing up to hit the top of the price channel and fall again. Prepare for a possible drop from 6150 to 6050 or so on futures in short-term trading.

Magicpickle

After every ATH, there is a retracement of 30-33%. While we did fall to 5100 briefly, we haven't yet experienced that big correction. We could be do for one in the next week.

Magicpickle

Currently in a downwards channel. Combine this with a turning stochRSI on the 3-day interval, and we could be seeing a bearish trend downwards over the next few days.

Magicpickle

After what seemed like a bullish morningstar reversal of the trend, we ironically saw the same reversal happen again, except this time bearish. Since the bulls are having a hard time pressing this up, we could soon dip from the top of the channel downwards, easily $150 or more. Combine this with an overbought stochRSI on the 15 and 30 min of 1.00, and a bear trend...

Magicpickle

Based on the current trend, we could see a major dump since the the 15 and 30 minute failed to close above the channel. Bearish behavior most-likely ahead.

Magicpickle

If it breaks the bottom, we could be in for a trend reversal and capitulation. It's best to stay out of the market until confirmation either way.

Magicpickle

BTC is still in a positive channel. If it breaks the channel, then we'll likely be heading down again.

Magicpickle

Upwards trend most likely for immediate future.