BitcoinShort
Drop Coming
Hey All,
I do TA for educational purposes. I'm new, do not make any trades based on what I say. I am mearly trying to show what I see and if anybody wants to comment with different ideas go for it please.
What I'm seeing is two major red flags.
First- It looks on the 4hr chart that we have been inside a rising wedge. This is a bearish symbol.
Second- Bearish divergence between price and volume. Price is going up, volume is going down. This shows that any upside in price is on a weak foundation. You need more buyers to continue to support that price at the moment.
I've been a long time Hodler but I've sold all my bags for this reason and some financial ones. I plan to buy back in when the market is looking better and I'm in a better place financially for investments.
I do TA for educational purposes. I'm new, do not make any trades based on what I say. I am mearly trying to show what I see and if anybody wants to comment with different ideas go for it please.
What I'm seeing is two major red flags.
First- It looks on the 4hr chart that we have been inside a rising wedge. This is a bearish symbol.
Second- Bearish divergence between price and volume. Price is going up, volume is going down. This shows that any upside in price is on a weak foundation. You need more buyers to continue to support that price at the moment.
I've been a long time Hodler but I've sold all my bags for this reason and some financial ones. I plan to buy back in when the market is looking better and I'm in a better place financially for investments.
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.