Bitcoin in a Bear Flag.
Updated
Bitcoin - Intraday
Short term RSI has turned negative
Short term MACD has turned negative
A lower correction is expected
Short term bias is mildly bearish
The medium term bias is mixed
Broken out of the triangle formation to the downside
Price action is forming a bearish flag which has a bias to break to the downside
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Resistance: 10620 / 10660 / 10700
Support: 10560 / 10520 / 10480
Signal Centre
Short term RSI has turned negative
Short term MACD has turned negative
A lower correction is expected
Short term bias is mildly bearish
The medium term bias is mixed
Broken out of the triangle formation to the downside
Price action is forming a bearish flag which has a bias to break to the downside
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Resistance: 10620 / 10660 / 10700
Support: 10560 / 10520 / 10480
Signal Centre
Trade closed: target reached
Take profit above $10.540 was reached.
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