More downside for BTC?

After a very weak bullish trend (with a lot of overlapping), the trend reached the 0.5 fib retracement and got even weaker.

and not only that!

1. the 1M chart is in a light overbought territory
   
2. the 2W chart turned downwards
   
3. and the weekly chart has MANY divergences
   

we also have a possible double top AND/OR rising wedge.
looks like there is more blood (red) to come.

this could very well be the start of wave 5.

Kommentera:

i would hate to be right about this, but it really looks like it.
The 2W has started its way down.
Also check the 1M bollinger band, we have been rejected from the middle line.
Next month we will have a bearish cross on the stochasticRSI