BitcoinShort
BTC: Bear Flag, 200EMA and RSI says DOWN!
Updated
Been a while since the last update, I've been quite busy although I kept reading stuff here and there.
BTC is developing a bear flag BELOW the 200 days EMA. This mainly means we are going down!
Stochastic RSI shows a fast invesrion from the overbought area down to zero.
Personally I would set a target price around 7200, close to the strong trailing support level highlighted in "pink".
As a side note we always need to take into consideration that this market is highly manipulated and almost anything can happen. I'm waiting for a breakout towards the bottom of the bear flag as a trend confirmation.
***As usual, this is not a trading advice.. It is merely my idea for educational and informational purposes only***
BTC is developing a bear flag BELOW the 200 days EMA. This mainly means we are going down!
Stochastic RSI shows a fast invesrion from the overbought area down to zero.
Personally I would set a target price around 7200, close to the strong trailing support level highlighted in "pink".
As a side note we always need to take into consideration that this market is highly manipulated and almost anything can happen. I'm waiting for a breakout towards the bottom of the bear flag as a trend confirmation.
***As usual, this is not a trading advice.. It is merely my idea for educational and informational purposes only***
Note
And down we go!
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