guys this is bad news
we have formed a double top pattern and if anyone is still long, you should short now.
this is going to drop to sub 7k in the coming days
the MACD also crossed the signal line. We're at least heading down to 6.8k before you can make any LONG decisions
so the daily has turned into an evening star and bulltrap. As for now the 200 EMA looks like strong support, but because the dailycandle is an evening star the next few daily candles are going to be red. That's why I think it will fall through it
the wave to the bottom of the trend channel didn't go down as I predicted in my last TA, but the pattern just got...
So we have had a very crazy bullrun the last few days, but the steam has gone out.
We are now in a consolidation phase, I predict that we will go down to the lower uptrendchannel and pick up momentum from there
since the 4hr RSI is pointing downwards.
We might break out of the downtrendchannel which started at the ATH.
My buytarget would be 9.3k and I will...
So let's start out with the 4h chart.
We had a nice run and it broke out of the steep red downtrendchannel but we didn't stay above it because of the bearish divergence and we have now fallen back into the downtrendchannel.
in the 4 hour chart you can see that the MACD is is pointing downwards and if it crosses it we might...
We had a nice bounce and the trend is definitely upwards, but I'm not conviced yet.
since the MACD shows lower highs, while the chart shows higher highs.
The underlying analysis would be a weak trend. Let's see how the next swing goes
Let's take a look at the daily chart.
BTC has now moved under the 100 EMA (purple) and is moving away from it. The bears are still in control and the price is nowhere to be seen at the upper side of the Downtrend channel (upper red dashed line)
Instead the price is now moving to the lower wedgeline and it might break through (The Chaikin Oscillator and MACD...