This bearish sign could change things.
Ok, the 9592 served as a resistance as we thought, and finally we see some correction here on BTC! And that’s fine, corrections are natural and healthy movements, as nothing can go up forever. But, before we begin, I invite you to follow me to keep in touch with our trades and analyses.
The bulls should be aware of this possible H&S pattern (pink curved lines), it wasn’t triggered yet, but if it closes under $ 9309 (blue line) we may see a sharper correction. It seems it’s not going to be triggered, but keep your eyes open, just in case. Now the daily chart:
It’s trading above the blue line at 9.2k and above the 21 ema, and these are good signs. It seems BTC found a resistance at the green trendline, but this don’t bug me though, what is really annoying is the low volume. The good news is the green candles have higher volume than the red candles in the past few days, and that’s a ray of hope.
I’ll keep what I said in my previous analysis, BTC is more bullish than bearish, but there’re reasons for a sharper pullback ahead, especially if it does a bearish pattern right now, under the trendline and it closes under the light blue line (9.2k).
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
The bulls should be aware of this possible H&S pattern (pink curved lines), it wasn’t triggered yet, but if it closes under $ 9309 (blue line) we may see a sharper correction. It seems it’s not going to be triggered, but keep your eyes open, just in case. Now the daily chart:
It’s trading above the blue line at 9.2k and above the 21 ema, and these are good signs. It seems BTC found a resistance at the green trendline, but this don’t bug me though, what is really annoying is the low volume. The good news is the green candles have higher volume than the red candles in the past few days, and that’s a ray of hope.
I’ll keep what I said in my previous analysis, BTC is more bullish than bearish, but there’re reasons for a sharper pullback ahead, especially if it does a bearish pattern right now, under the trendline and it closes under the light blue line (9.2k).
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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