Bitcoin Bearish Signals (MACD, RSI, MA200 & Trend)
We are going to be looking at some basic signals related to Bitcoin and the current bearish action we are experiencing.
➖ MACD
The daily MACD produced a triple-top, is trending down and there is also a bearish cross. These are all bearish signals.
➖ RSI
The RSI is trending lower, straight down. A triple long-term top is also present here. The reading is 50; soon to enter the bearish zone.
➖ Lower Highs
We have some major lower highs since the All-Time High in March 2024.
In April 2024, in May and the ones seen on this chart:
➖ MA200 (Moving averages)
Bitcoin moved and closed daily below MA200. As a bonus signal, we also have a rounded top and a break below EMA8, EMA13 and EMA21.
Thank you for reading.
Namaste.
➖ MACD
The daily MACD produced a triple-top, is trending down and there is also a bearish cross. These are all bearish signals.
➖ RSI
The RSI is trending lower, straight down. A triple long-term top is also present here. The reading is 50; soon to enter the bearish zone.
➖ Lower Highs
We have some major lower highs since the All-Time High in March 2024.
In April 2024, in May and the ones seen on this chart:
➖ MA200 (Moving averages)
Bitcoin moved and closed daily below MA200. As a bonus signal, we also have a rounded top and a break below EMA8, EMA13 and EMA21.
Thank you for reading.
Namaste.
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