Bitcoin is trading off into the end of it's trend making Lower Highs while finding support on strong trend lines / moving averages with less and less volume. A new trend likely to start in April
Momentum/Volume drying up similar to mid 2019 environment with extremely stretched technicals. Macro environment (rising rates & inflationary expectations) also stacked against stretched (especially levered) assets. DeFi growth/institutional adoption will keep happening, but BTCUSD will likely enter a multi-year correction / consolidation period.
Various support levels for both price & volume/momentum.
Next leg coming up (?) - spotting bullish divergence in volume + price with a double bottom on short term timeframe charts as well.
Bearish volume & price divergence. Target 8500.
Trying a short here at the 13 Day MA...
What a retracement. Bouncing off of yesterday's high as well as the 233MA on the 30min chart. Expecting the price to rollover to new lows by EoD.
Selling volume has exceeded that of the previous February dip, but there is a divergence in price. Experimental target analysis using key volume levels to find price supports.
Price at 233MA and 13MA at 55MA. Expecting bounce... On short term charts, net buyers are increasing with a double bottom.
Expecting price rejection at the 233MA as well as rejection of the 13MA at the 55MA. Short. 106.9 good stops.
Momentum turning after price capitulation. Set tight stops around 6505
re-enter short!
Very strong bearish momentum, but expect prices to retrace a bit before bouncing off the short term moving average resistance.
Short. Stop loss at 6820. Target: ~6660 :)
Prices have formed what seems like a double top with bearish momentum. Short with stops at $66.
Retracement back to the moving average before further down moves.
Get ready to take profits. First target: 6530