$BTC - Still bearish and going to sub-6000 if all else fails
My bearish target at 71xx was hit. About $40 off target and that's because of my more conservative style. The coming week is going to be critical. If we break down of the symmetrical triangle, my target is $5850. Chart is invalidated if we break above 8100.
CMF and OBV are showing bearish and unless one of them starts pointing north, I am more bearish than bullish now.
CMF and OBV are showing bearish and unless one of them starts pointing north, I am more bearish than bullish now.
Note
So we have 3 indicators showing bearish signs on the daily (1D).Shorter time frames like 4H and 6H are showing signs of life. So we are safe for now as we trade sideways, creep up a little more and then hopefully 1D indicators turn bullish. If you intend to go long here, set your stop-loss tight.
Note
Target to go long on the 6H @ $7565.
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