Bearish Ichimoku view of Bitcoin on the daily
BTC on the daily
Price is forming a P-wave and is soon be breaking to the up or downside. Highs are gettings lower and lows are getting higher.
Price is below TS, KS and Kumo meaning that the market is bearish in short, midterm and longterm.
Chico Span is below the candles indicating bearish momentum.
On the RSI there is hidden bearish divergence (trend continuation). Wile price makes lower highs, RSI shows higher highs. The trend continuation would be to the downside.
If price can break heavy resistance on up or downside, the ultimate targets are as below:
Target upside: 50606 $
Target downside: 23999 $
Price is forming a P-wave and is soon be breaking to the up or downside. Highs are gettings lower and lows are getting higher.
Price is below TS, KS and Kumo meaning that the market is bearish in short, midterm and longterm.
Chico Span is below the candles indicating bearish momentum.
On the RSI there is hidden bearish divergence (trend continuation). Wile price makes lower highs, RSI shows higher highs. The trend continuation would be to the downside.
If price can break heavy resistance on up or downside, the ultimate targets are as below:
Target upside: 50606 $
Target downside: 23999 $
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