Big committee hearing on Crypto Regulation coming up Thursday, February 15th. Link here: https://www.senate.gov/committees/commit...
These are just my personal views and this does not represent any financial advice.
If you look at the 4 hour chart of BTCUSD and use Ichimuko Cloud and Relative Strength Index as Indicators, I would like to point out some more bearish facts:
1. A huge Bear flag is forming.While BTC may push higher again to about 9000, it would hit a major resistance trend line at the end of the bear flag.
2. As per Ichimuko cloud, we are in the midst of the cloud, causing turbulence. We are about to hit the cloud's top lead line, which causes resistance. In addition, the conversion line is about to cross the base line and move downwards, which are all bearish indicators.
3. A very interesting indication is shown on the 4 hour RSI. You will notice that BTC has not broke above the 61 marker in a long time. The last time being January 7, 2018! In fact, a long downward trend started January 28 when RSI was at 61. This indicates that bulls are simply missing the strength for a strong upward rally and bears are still in full control.
Wishing you all a good Sunday!