There's an interesting bearish divergence formation on the 1hr chart. This is not a confirmation but it is a very important element which tells us that is it very likely that the bearish movement hasn't finished yet, because there's an evident lack of strenght in the market. So in my humble opinion, this tells us that BTC hasn't finished falling and a double...
As you can see in this chart, the symetrical triangle is about to break and in this case, because we got into the formation from above, it means as usual that this is a continuation pattern, therefore, we should go further down.
In the chart, we can see a bear flag and a bearish divergence, because as the price makes higher highs, the volume and the RSI do the opposite, they make lower highs, so this is a pretty solid indicator that we're going further down in the short term, bulls are running out of fuel and BTC might probably dump more.
Hello people! Recently, it has been confirmed we're currently inside an ascending triangle formation (PINK TRIANGLE) in which the resistance remains around 3880 and the supports are higher each time we go down. I'm aware that this could be interpreted as a bullish indicator, but actually it might be the opposite though. As you all may know, an ascending triangle...
BTCUSDT 1hr chart is showing an evident bear flag right now. It already touched the 3880 resistance once a few hours ago and it couldn't get through, this in addition to the lack of volume and the overbought condition of the RSI tells us that the bear flag is indeed real and BTC could dump to the 3750's zone in the next hours. COINBASE:BTCUSD
There's a potential BEAR FLAG on the 1hr chart / We're in a heavily overbought zone right now / I DO THINK we should be around the end of this year's bear market BUT we might see sideways movement for the next few weeks or so.
