Short

BTCUSD on daily chart falling under resistance SHORT

Updated

BTC in the recent past put in a head and shoulders pattern. The neckline drawn onto the chart

is above current price and rejecting it. Volatility has flipped decidedly. News is that Bitcoin

and crypto ETFs have had several consecutive days of outflows some perhaps when stop gold

spiked. Dollar value has a role in this as well as it dipped and then recovered. I have followed

the crowd and sold my position for now and will look for a near term bottom when it

develops for re-entry. CLSK is down and other crypto-related stocks may now down trend.

Looking at MSTR, RIOT and BTBT.

Note

News : tradingview.com/news/the_block:c84936a97094b:0-bitcoin-etfs-see-full-week-of-net-outflows-record-low-inflows-for-blackrock-fidelity/

Note

BTCUSD buyers moving price to the neckline but cannot break the resistance.
Volume is not the best ( needs heightened volume support); Shorts likely hitting
the price at or under the line and taking positions in the tug-o-war.

Note

Pattern repeating inside the pattern more bearish bias

Note

RIOT

Note

CLSK

Note

Cryptomarket falls decrypt.co/223046/this-week-in-coins-after-setting-a-new-all-time-high-bitcoin-struggles-to-retake-69k

Note

BTCUSD priee action with bearish bias with overvalued band now lower than
necklines of H & S ( the dotted black line above the price action. Upward price volatility is fading. the tug of war is over for now. Buyers are outnumbered by those entering as a short and those selling to realize profits.

Note

Trade active

BTCUSD appears ready to reverse and move higher

Note

Trade active

Now trading long

Note

AwesomeAvani

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.