BTC/USDT is in a bearish trend forming a Bear Flag. The price action has bounced off an important Support Zone and formed a Bear Flag which seems to have been broken.
The Bearish Bias is based on the following signals:
Expecting bears to push prices lower.
Trade safe. Hit like & follow for more analysis.
The Bearish Bias is based on the following signals:
- Bearish trend (price making LHs and LLs)
- GMMA: Slow MAs above fast MAs
- Slow MAs acting as dynamic resistance
- Bear Flag breakout with bearish engulfing on LH
- RSI under 50 and not near oversold levels
- OBV convergence with price (downtrend has conviction)
Expecting bears to push prices lower.
Trade safe. Hit like & follow for more analysis.
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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.