Bitcoin / TetherShort
Bitcoin Bearish signals (1hr)
Let's take a look at the hourly chart.
The market rebounded from the resistance at 161.8 Fibonacci.
I see two strong bearish patterns - the rising wedge and the harmonic butterfly pattern .
Also Stochastic RSI and cRSI came out of the overbought zone and began to fall.
Probably this means that the correction for bitcoin is not finished, there was only a pause.
If I'm right, then we can expect the drop to the uptrend line at 4000 or to the last bottom at 3900 1.45% (for different exchanges the levels may differ).
Let's wait and see.
Good luck!
The market rebounded from the resistance at 161.8 Fibonacci.
I see two strong bearish patterns - the rising wedge and the harmonic butterfly pattern .
Also Stochastic RSI and cRSI came out of the overbought zone and began to fall.
Probably this means that the correction for bitcoin is not finished, there was only a pause.
If I'm right, then we can expect the drop to the uptrend line at 4000 or to the last bottom at 3900 1.45% (for different exchanges the levels may differ).
Let's wait and see.
Good luck!
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