Short

Bitcoin Monthly Sell Signal

Updated

With the new monthly candle for June, we have a confirmed strong sell signal on the monthly chart for the first time since 2017 via the Wavetrend Oscillator.

Don't stare at the chart all Summer, enjoy the nice weather! :-)

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Hidden bearish divergence on the daily chart

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In a bearish trend, RSI usually doesn't go much higher than the 55-60 level before turning back down. It looks like the 3 hour RSI is ready to turn back down now

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With the candles hidden, we can see that the 12H Tenkan & Kijun are tightly paired and angled sharply down

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1 month Ichimoku Kumo Cloud support is at 10k. Will we touch that sometime before 2023? I would imagine so.

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Interesting spot for the Volume Point of Control to be located at

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The Volume Supported Linear Regression Oscillator on the 4 day chart shows that we have been in a long term downtrend since 4/15/21 and we are just now about to cross the zero mid-line of the oscillator on the short term.

JoelRBishop

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