BTC is clearly breaking down. The very first arrow was put in place (you can see it from my previous post about BTC) and look how many times is was tested (see other arrows) before finally falling like a knife (left pointing arrow). Aaanndddd we've also broken the underlying horizontal support. Pretty boring stuff......but simple and true.
Trade active:
We just touched overhead support to the penny that was put in place with the high of 1/6 and 2/20.......the peak of 3/5 was divergent which meant at that time we were going lower, and the low of 8/3 never made it into oversold territory. Safe to short here with a stop just over risistance just above.
We just touched overhead support to the penny that was put in place with the high of 1/6 and 2/20.......the peak of 3/5 was divergent which meant at that time we were going lower, and the low of 8/3 never made it into oversold territory. Safe to short here with a stop just over risistance just above.