Hi guys!
This is my first publishment. Comment if you think it was helpful or not, because every comment helps me to improve. Let's jump in!
1. First bearish sign is the mid-term down trendline I drew.
2. We can also see a clear elliot waves pattern. We can see a ficonacci level at 9k and even the 5th wave didn't test it, so I don't think we are moving up again there soon.
3. We are also hitting the top of the bollinger bands.
4. 1h stochastic rsi is crossing.
5. We can also se a divergence on rsi.
My first target would be around 7.5k, but in a few days I expect to retest that 6k level. At 6k we might creat a double bottom and the price would bounce back or we break the 6k level. If we break the 6k level the price is most likely to fall to the 5k level and test it, which is very important psychologically.
This is my first publishment. Comment if you think it was helpful or not, because every comment helps me to improve. Let's jump in!
1. First bearish sign is the mid-term down trendline I drew.
2. We can also see a clear elliot waves pattern. We can see a ficonacci level at 9k and even the 5th wave didn't test it, so I don't think we are moving up again there soon.
3. We are also hitting the top of the bollinger bands.
4. 1h stochastic rsi is crossing.
5. We can also se a divergence on rsi.
My first target would be around 7.5k, but in a few days I expect to retest that 6k level. At 6k we might creat a double bottom and the price would bounce back or we break the 6k level. If we break the 6k level the price is most likely to fall to the 5k level and test it, which is very important psychologically.
RSI is still showing clear divergence. We are making higher highs on the price chart, but on the RSI indicator we are making lower highs at the same time.
Sorry for the missleading name of the publisment, it meant to be: "btcusd clear bearish signs".
Always remember that I"m not telling anyone to invest in bitcoin, it is my own personal opinion!