BitcoinShort
BITCOIN (#BTC): What happens if 10K support fails?
Bitcoin has still good chance to continue upward. But I can see a lot of bearish signs there. I likely expect drop down to mentioned SL 10K/9.6K and 8.9K. If BTC gets above 11.5K (which is my bearish idea invalidation level), I will try to harvest profits in $13.5 - 14.5K zone.
> 1H = BEARISH = BB very dangerous, we can expect significant price movement soon. RSI bearish. MACD one step ahead of Bearish cross. Histogram decreasing and rather bearish than bullish.
The price is moving inside another ascending triangle. It is bullish pattern, but i recommend you to wait for the breakout of this triangle.
> 1D = Neutral = RSI overbought and Bearish divergence. MACD histogram green, but indicates decreasing interests of buyers. The price is testing the top line of BB and it is very close to drop back to the channel. BB Basis support 8.8K.
Price action - small bodies, potential High Swing, long upper wicks - significant amount of sellers still exist. S/RL 10K/9.6K and 8.9K
> 1W = Bearish = Important Fibo 0.5 at 11.6K and Fibo Golden Zone between 13.5K - 14.2K.
If we look at technical indicators, a lot of Bearish Divergences can be found there. The most interesting is MACD indicates decreasing interests of buyers.
> 1H = BEARISH = BB very dangerous, we can expect significant price movement soon. RSI bearish. MACD one step ahead of Bearish cross. Histogram decreasing and rather bearish than bullish.
The price is moving inside another ascending triangle. It is bullish pattern, but i recommend you to wait for the breakout of this triangle.
> 1D = Neutral = RSI overbought and Bearish divergence. MACD histogram green, but indicates decreasing interests of buyers. The price is testing the top line of BB and it is very close to drop back to the channel. BB Basis support 8.8K.
Price action - small bodies, potential High Swing, long upper wicks - significant amount of sellers still exist. S/RL 10K/9.6K and 8.9K
> 1W = Bearish = Important Fibo 0.5 at 11.6K and Fibo Golden Zone between 13.5K - 14.2K.
If we look at technical indicators, a lot of Bearish Divergences can be found there. The most interesting is MACD indicates decreasing interests of buyers.
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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.