BTCUSD is setting up for sharp decline is my humble opinion.
Kagi chart has double topping formation, and we are currently slightly above $63.980 support line.
The Kagi will change color, which is the first condition for change of direction. The 9-period MA is approaching, and a break below will confirm downtrend.
Remain short, and sell at current with stop-loss $ 65.800. Profit objective near $ 50k and if broken we will move towards $36k.
Kagi chart has double topping formation, and we are currently slightly above $63.980 support line.
The Kagi will change color, which is the first condition for change of direction. The 9-period MA is approaching, and a break below will confirm downtrend.
Remain short, and sell at current with stop-loss $ 65.800. Profit objective near $ 50k and if broken we will move towards $36k.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.