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BTCUSD Gravestone doji...Gravestone of bulls? Back to 6.5K!
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Hi guys!
Let me share my idea with you, I hope you find it helpful!
As you can see yesterday (february 20) we tested the mid-term bearish trendline as a resistence and it looks like we are bouncing back from here.
We did not close above the trendline which is a great sign for the bears. We also created a gravestone doji or a shooting star (the daily candle is between these two). It never mind now if we call it a gravestone or a shooting star since both of them are trend reversal signs. The red candle today is also a good confirmation of the reversal.
I would still be cautious with shorting, we have to close daily below our gravestone doji/shooting star. If it happens then it is very likely to keep going lower and my target level is around 6.5k at the long-term bullish trendline.
The hidden bearish divergence is still valid which means that we are continuing the mid-term bearish trendline.
The other good sign is that we also failed to close over the 0.618 fibonacci.
And the last bearish sign is that we also created a double top where the second one is a little bit lower and that means a trend reversal is very likely to happen.
I posted yesterday a longer publishment that I would recommend you to read!:)
Please leave a comment if you found it helpful or you have any question!
***It is not a financial advice. I don't tell anyone to buy or sell bitcoins, it is only my personal opinion***
Let me share my idea with you, I hope you find it helpful!
As you can see yesterday (february 20) we tested the mid-term bearish trendline as a resistence and it looks like we are bouncing back from here.
We did not close above the trendline which is a great sign for the bears. We also created a gravestone doji or a shooting star (the daily candle is between these two). It never mind now if we call it a gravestone or a shooting star since both of them are trend reversal signs. The red candle today is also a good confirmation of the reversal.
I would still be cautious with shorting, we have to close daily below our gravestone doji/shooting star. If it happens then it is very likely to keep going lower and my target level is around 6.5k at the long-term bullish trendline.
The hidden bearish divergence is still valid which means that we are continuing the mid-term bearish trendline.
The other good sign is that we also failed to close over the 0.618 fibonacci.
And the last bearish sign is that we also created a double top where the second one is a little bit lower and that means a trend reversal is very likely to happen.
I posted yesterday a longer publishment that I would recommend you to read!:)
Please leave a comment if you found it helpful or you have any question!
***It is not a financial advice. I don't tell anyone to buy or sell bitcoins, it is only my personal opinion***
Ghi chú
We broke the short term bullish trendline. Good sign!
Ghi chú
The huge red candle confirmed the trend reversal yesterday. We are moving down!Ghi chú
10k level broken. Great job bears!Ghi chú
Next target is to break the 9.5k level. It is a previous resitance which has become a support. Now we have to break this support.
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