Namaste everyone.
As you can see, BTC has been forming bearish divergences for the past few days now.
One got cancelled out (!).
The second and biggest one seems to have been forming for quite a while which makes it look more bearish.
It is safe to assume that a pullback will occur.
A candle close below the green uptrend line is also a good signal that more downfall will probably occur.
The lowest I expect this to drop is down to 40K.
Trailing it seems like a good idea to me, especially If shorting.
As always, this information is for educational and research purposes only.
As you can see, BTC has been forming bearish divergences for the past few days now.
One got cancelled out (!).
The second and biggest one seems to have been forming for quite a while which makes it look more bearish.
It is safe to assume that a pullback will occur.
A candle close below the green uptrend line is also a good signal that more downfall will probably occur.
The lowest I expect this to drop is down to 40K.
Trailing it seems like a good idea to me, especially If shorting.
As always, this information is for educational and research purposes only.