BitcoinShort
Unique Weekly Trend During BTC correction
I have noticed an odd yet unique pattern happening with Bitcoin ever since the crash sub 4k.
Bitcoin always starts the week off Really Strong following the stock market and is able to hold of most of its gains into Friday , then over the weekend when all markets but Bitcoin are open everything gets dumped back to square one at the 6k Baseline Support.
There is a strong case for this to occur again this week as Bitcoin failed to break higher despite the numerous attempts by the bulls to get bitcoin into the 7k region.
The Stochastic Rsi is showing a double top a bearish sell signal we haven't seen a while that has proven to be valid and of high probability for bitcoin.
Bitcoin always starts the week off Really Strong following the stock market and is able to hold of most of its gains into Friday , then over the weekend when all markets but Bitcoin are open everything gets dumped back to square one at the 6k Baseline Support.
There is a strong case for this to occur again this week as Bitcoin failed to break higher despite the numerous attempts by the bulls to get bitcoin into the 7k region.
The Stochastic Rsi is showing a double top a bearish sell signal we haven't seen a while that has proven to be valid and of high probability for bitcoin.
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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.