Bitcoin did breakout above the trend line for the rising channel. However a bearish cross to the MACD is incoming and the Stochastic is oversold as well. Bitcoin needs to break above the 30k level and hold in order to flip the script of this long term down trend. If bitcoin is rejected, I can see support at 25K, 21K and then down to 15K. Should we lose 15K, expect...
As discussed in my prior chart, Bitcoin was on a bearish breakdown. Prior support fell quickly and now looking towards is next support level of 18,600 - 19,600. Should that level fail look for it's next level support near 16k level. I closed my shorts for a profit but will plan to re-open should we get a retest of the recent s/r flip level. AS seen below,...
I am watching the dollar continuing to gain strength. Technicals point towards a recent support/resistance level flip. We got one candle close above and after the recent fed meeting, it appears rates will continue to push higher. This will cause further increase in the strength of the dollar index and push down asset prices. The news and technicals are lining up....
This chart is showing the breakdown of that coin out of the bear flag pattern. It is now coming into support It is now coming into support and should this support not hold, I do expect the price action to go the 16k level. it is possible to get a retest of the bear flag before a breakdown of support. Macro indicators for momentum point Bearish.
