As bullish as I am - I still call it how I see it. The purpose of technical analysis is to maximise profits and minimise losses. Bitcoin is showing some very bearish signals and extreme caution needs to be taken otherwise you could see yourself holding massive bags on the way down.
Bearish signals
- Death cross incoming
- Macd converging downward
- Volume decreasing
What to expect
- resets of the trends support line, if fails we will see a drop-down to the 200 day MA which is around $24,300 range.
As always let me know what you think
''Buy Big Sell BIGGER'' - MegaWhale
Bearish signals
- Death cross incoming
- Macd converging downward
- Volume decreasing
What to expect
- resets of the trends support line, if fails we will see a drop-down to the 200 day MA which is around $24,300 range.
As always let me know what you think
''Buy Big Sell BIGGER'' - MegaWhale
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we could see a bounce at $37,000 sending us back up to $50,000+ but this is the less likely senario