Short-Term Bearishness on Bitcoin (Bitstamp)
There are many bearish signals adding up all at once on the hourly time-trame. Moving averages, recent trend-lines and price structure suggest that the sentiment is "down-trend".
On top of that, we find some nice confluence between price resistance zones (yellow boxes) and important fib-retracement levels of the most recent price swing (61.8% and 78.6%, specifically).
On top of that, we find some nice confluence between price resistance zones (yellow boxes) and important fib-retracement levels of the most recent price swing (61.8% and 78.6%, specifically).
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