Ok our last analysis played out perfectly, that is if you used a take profit limit. The Break upwards reached our target exactly. However, since then BTC has retraced back to the levels it was at before the break. Leaving a nasty looking long wick on the green candle, this implies weakness on the bulls side.
So we begin our analysis there.
- BTC failed to break its 7,200 resistance: BEARISH
Also,
- News on ETF Denial: BEARISH
- New Chinese Crypto Bans: BEARISH
From the strictly technical side of things, BTC has had declining volume lately and our price is trading right a the Bollinger bands moving average on the daily.
Existing sentiment leads us to believe that major volatility is incoming and if BTC breaks down through its major support at 5,800 then we will see some serious BEARISH movements.
Disclaimer:
Neither these presentations, nor anything on Twitter, Cryptoscores.org, or any other medium/mode of communication, including private correspondence, constitute financial advice.
Cryptoscores.org is not a financial advisor and hold no formal qualifications in this area.
Trade entirely at your own risk.
This is for entertainment purposes only.
So we begin our analysis there.
- BTC failed to break its 7,200 resistance: BEARISH
Also,
- News on ETF Denial: BEARISH
- New Chinese Crypto Bans: BEARISH
From the strictly technical side of things, BTC has had declining volume lately and our price is trading right a the Bollinger bands moving average on the daily.
Existing sentiment leads us to believe that major volatility is incoming and if BTC breaks down through its major support at 5,800 then we will see some serious BEARISH movements.
Disclaimer:
Neither these presentations, nor anything on Twitter, Cryptoscores.org, or any other medium/mode of communication, including private correspondence, constitute financial advice.
Cryptoscores.org is not a financial advisor and hold no formal qualifications in this area.
Trade entirely at your own risk.
This is for entertainment purposes only.