BTC is showing strong bearish sell signals at the moment:
- An early sign of a weakening bullish trend could be seen in mid-May
- A strong bearish divergence has formed
- Bearish volume is high
If the trend reverses, support could be found at around $6400 and $5400. As the price shot straight through $6400 last time, this support level might break just as easily downwards.
Even if a reversal does not occur and price is going higher, a reversal is prone to happen in the very near future.
- An early sign of a weakening bullish trend could be seen in mid-May
- A strong bearish divergence has formed
- Bearish volume is high
If the trend reverses, support could be found at around $6400 and $5400. As the price shot straight through $6400 last time, this support level might break just as easily downwards.
Even if a reversal does not occur and price is going higher, a reversal is prone to happen in the very near future.
Note
A possible bull trap has just formed:
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.
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.