BTC bulls are weak
Updated
Reasons why I am short :
The daily RSI hit a top with a lower price than before - bearish divergence
Daily Ichimoku is pushing down the price on the daily - this is very strong resistance
4hr is showing bulls are exhausted - increasing bear volume
btcusdlongs look extended and we aren't seeing any follow through from the bulls - no momentum
btcusdshorts are very low and close to support
No bullish indications from alts either
Good luck!
The daily RSI hit a top with a lower price than before - bearish divergence
Daily Ichimoku is pushing down the price on the daily - this is very strong resistance
4hr is showing bulls are exhausted - increasing bear volume
btcusdlongs look extended and we aren't seeing any follow through from the bulls - no momentum
btcusdshorts are very low and close to support
No bullish indications from alts either
Good luck!
Comment
The bulls are buying the dips - which can clearly be seen on the 1hr; however I am still leaning bearish. We will likely see the break sometime today. If you are not in a trade I would recommend sitting this one out - not worth the risk.Comment
Things are looking pretty bullish short term, we may see a move up within the next few hours. Whether there will be enough follow through to push us over the ih&s line is another question. Patiently waiting.
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