BTC Downtrend Continuation
Updated
Hello!
Today, BTCUSDT is expecting another movement after a small correction to the upside.
We can see some interesting things going on with BTCUSDT 30 min chart . First, we can see that a Descending Channel is in place, also, we were able to see that in the middle of this, BTC is finding support on the orange line, forming a pennant. Along with all that, we can see that the RSI has cooled off, which can point us that the selling momentum can pick up from here again, but a move to the upside in the coming hours is not completely out of the cards, if BTC can respect that orange line and get some volume along with an upside swing. The 10 MA is now going to make contact with the price in a few minutes, which can force a move to the downside, alog with that the TD Sequential pointed to a short opportunity giving us a Red 2 below a Red 1, and a Red 3 below a Red 2.
This is not financial advice.
Thanks!
Today, BTCUSDT is expecting another movement after a small correction to the upside.
We can see some interesting things going on with BTCUSDT 30 min chart . First, we can see that a Descending Channel is in place, also, we were able to see that in the middle of this, BTC is finding support on the orange line, forming a pennant. Along with all that, we can see that the RSI has cooled off, which can point us that the selling momentum can pick up from here again, but a move to the upside in the coming hours is not completely out of the cards, if BTC can respect that orange line and get some volume along with an upside swing. The 10 MA is now going to make contact with the price in a few minutes, which can force a move to the downside, alog with that the TD Sequential pointed to a short opportunity giving us a Red 2 below a Red 1, and a Red 3 below a Red 2.
This is not financial advice.
Thanks!
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So, we got more sideways action. There was no real high volatility moves or anything like that, we broke out of the channel, but with that, all we got was less volume and more sideways action. With that in mind, we still have a pretty clear bear pennant formation, with low volume and all indicators cooled off and ready for another move down, all we need is a bit more volume for things to happen here.This is not financial advice.
Thanks!
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