We can see a lot of bearish factors forming on the BTC CME futures chart.
> 2 gaps underneath the price. (yellow boxes)
> Bearish divergence.
>Old support turns into new resistance.
> possible double top formation.
> Bearish cross on the MACD.
>Possible rising wedge formation.
>>> I expect a healthy correction into the blue box of support. Which can give us a possible Head and sholders formation.
> 2 gaps underneath the price. (yellow boxes)
> Bearish divergence.
>Old support turns into new resistance.
> possible double top formation.
> Bearish cross on the MACD.
>Possible rising wedge formation.
>>> I expect a healthy correction into the blue box of support. Which can give us a possible Head and sholders formation.
Note
First gap filled. Let's see how price reacts
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Related publications
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.