The winter is coming. As everyone can see the index is failing at making higher highs, the dips are shallow, but the conviction is not there, there is just no room to rally. We reached the TOP. RSI showing weakness in the bull market.
Expecting a correction to around 25300, then a low volume rally to retest some of the former highs, and then, the long awaited...
Chart is self-explanatory. It's very choppy and impossible to trade. Most high-lev trades are getting stopped out and/or liquidated.
I'd be short or sitting out in FIAT. These two zones look good for a reversal. Trending below 20MA and 200MA on daily atm, so the trend is in favour of bears. No reason to long below 200MA unless a V-shaped bottom occurs or there is...
Bitcoin tagged 7.8K USD support, which happens to be the 1st target and thus entered its buy area.
{Buy zones can be seen on my previous chart.}
Subsequent 4H closes also painted a bullish divergence, both RSI and MACD show the weakening of bears and the market is getting ready for a bounce.
One leg lower (or just a spike towards the 2nd target - slightly below...
Still neutral, no trading zone with low volume.
As posted many times already by others.
Approaching the end of triangle.
Its structure is favouring bears a little but we could breakout to the upside if we don’t turn lower now.
If we fail here or at the pink downward resistance we’re likely headed sub 10K the support of the ascending turquoise trendline would meet...
The diamond bottom is in for Bitcoin -0.49% if the bold turquoise trendline holds.
Long above 6400, target 7000, stop 6180.
Everyone is waiting for sub 6K to buy in and lots of shorts might get trapped so I can see plenty of people underwater.
It would be a classic move by bitcoin -0.49% to turn up from here.
RSI and MACD showing bullish divergence, sellers...
