Clearly going downhill
Just by indicators alone there is clearly a lot of negative divergence on the 4H and you can confirm it on the lower time frame as well. Together with the daily MACD crossing under, this $13500 is clearly not the bottom. It would be wise to discard patterns and just trade momentum from here. If you are looking for bottom targets, check my other ideas.
If you cannot spot the divergence here... I have no comment. It is very obvious and if indicators are correct, I don't really see any signs for a strong recovery, maybe we will bounce off 12.4k into 13.5k but I think... that's it. I don't see how we are not going down from here, unless some major big money comes in which even then.. that money would likely go short instead of long.
TDLR: We are in a bear market.
If you cannot spot the divergence here... I have no comment. It is very obvious and if indicators are correct, I don't really see any signs for a strong recovery, maybe we will bounce off 12.4k into 13.5k but I think... that's it. I don't see how we are not going down from here, unless some major big money comes in which even then.. that money would likely go short instead of long.
TDLR: We are in a bear market.
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