Bitcoin / TetherUSShort
BTC/USDT Seems Bearish HERE is WHY!
Hello Traders
BTC/USDT seems to be bearish.
Reasons:
1- Broken upward trendline.
2- RSI is declining(bearish divergence in Daily TF)
3- Chart is forming a Bearish Curve(scallop).
4- Upward trend has no more strength or in simple term BTC is weakened(Price went up but BTC Dominance is falling).
5- Strong resistance in 50.5-52k zone.
In case, this analyze will be invalidated if price goes up and close above 51500 in Daily TF.
Thanks for Reading.
BTC/USDT seems to be bearish.
Reasons:
1- Broken upward trendline.
2- RSI is declining(bearish divergence in Daily TF)
3- Chart is forming a Bearish Curve(scallop).
4- Upward trend has no more strength or in simple term BTC is weakened(Price went up but BTC Dominance is falling).
5- Strong resistance in 50.5-52k zone.
In case, this analyze will be invalidated if price goes up and close above 51500 in Daily TF.
Thanks for Reading.
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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.
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.