BitcoinShort
BTC/USD (Descending Triangle) Bitcoin
Updated
Chart:
2 hr
Indicators:
Descending triangle
Volume decline
DMI/ADX cross
OBV neutral
MACD cross
RSI down
Thoughts:
Almost all indicators currently point towards a move down. 4 hr chart looks almost the same. 1 day RSI & 3 day has turned down. That being said BTC has has a mind of it's own lately so it could go either way but I'm betting down. LTC just had a crazy pump that ended with a very similar (as BTC) giant red doji. I have my eye ETH on for a similar pump.
Other Charts:
2 hr
Indicators:
Descending triangle
Volume decline
DMI/ADX cross
OBV neutral
MACD cross
RSI down
Thoughts:
Almost all indicators currently point towards a move down. 4 hr chart looks almost the same. 1 day RSI & 3 day has turned down. That being said BTC has has a mind of it's own lately so it could go either way but I'm betting down. LTC just had a crazy pump that ended with a very similar (as BTC) giant red doji. I have my eye ETH on for a similar pump.
Other Charts:
Trade active
Trade closed: target reached
Note
I will keep an eye out if we it looks like another dip is coming our way.
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