BitcoinLong
BTC Sell Off
Daily
Looking at our trend timeframe we can see price has made a retracement down to $8,700 and has slowly been tracing since. Trend has not been broken until we get a close below our black line (Trend was pierced not broken). Stochastic RSI showing momentum is bearish, however price has not yet gave us a confirmation (Indicators rely on price)
4Hour
Shifting over to our pattern timeframe we see price is looking bearish. As this analysis is being written, our 4hour candle came up to $9,200 and rejected giving us a bearish engulfing. Expecting a drop towards $8,500 if our current support does not hold.
Hourly
Finally looking over at our trigger timeframe we see a lower high was formed, and should expect a further bearish move. Hourly showing support @ $8.250. Stochastic RSI showing momentum is bearish. Waiting for BTC to dip so I can add to the bag.
Looking at our trend timeframe we can see price has made a retracement down to $8,700 and has slowly been tracing since. Trend has not been broken until we get a close below our black line (Trend was pierced not broken). Stochastic RSI showing momentum is bearish, however price has not yet gave us a confirmation (Indicators rely on price)
4Hour
Shifting over to our pattern timeframe we see price is looking bearish. As this analysis is being written, our 4hour candle came up to $9,200 and rejected giving us a bearish engulfing. Expecting a drop towards $8,500 if our current support does not hold.
Hourly
Finally looking over at our trigger timeframe we see a lower high was formed, and should expect a further bearish move. Hourly showing support @ $8.250. Stochastic RSI showing momentum is bearish. Waiting for BTC to dip so I can add to the bag.
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