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or even to break it down.
Dear bitholders we are now located at the top of the range which should be a good area to short. This analysis is confirmed by an hidden bearish divergence in the stochastic indicator
there is also an important trendline which was broken and just retested
in my opinion bitcoin is preparing for a correction
Chart completed with:
bearish crab
elliot waves
bearish channel
moving averages
Safer entry will be after breaking the channel, or the second safer setup will be at the moving average crossing
but this point is also a safe entry because there is a confluence of resistance : point D of bearish harmonic, point 5 of EW and top of the bearish channel
trend continuation setup
based on a bear flag below an important support broken and rejected becoming a resistance
and moving averages acting as resistance too also they still pointing down.
step 1 and target on chart
