$BTC - from 9k to 6k

• The 9k support which held for 3 months shattered, it will now act as resistance (red bar)
  
• We lost support from 21 weekly MA + 200DMA, next support is 50 MA
  
• Weekly RSI dropped below 50 after 6 months, should drop to 30
  

The next support area (green box) has confluence of
- 50 WMA
- 50% Fib (of 3k to 14k move)
- Horizontal support in 2018

There should be a relief (temp) bounce on the way down

We been tracking this chart when we called the top in July, check it out

Bình luận:

The Fib support held (green arrows) for 4 weeks, but should weaken Another retest of this support may fail. Note how RSI retested the 50 line and got rejected (red arrow)

Bearish bias remains unchanged

Bình luận:

We lost the support, but it turned out to be a fakeout (wick) and we had a huge push up above the red resistance, which is now blue

However, the 21WMA (black) acted as resistance and pushed price below support line (9k-8.9k), this is not a good sign. Also the RSI is now falling and likely will go below 50

My bias is bearish

Bình luận:

Bearish bias was accurate, we almost dropped to the support line and within $100 of our target. Doesn't look great

RSI is firmly below 50

Bình luận:

Two months from the initial idea, we hit our target green zone today. Love TA

Let me know if this has helped