Currently BTC has had an up day today, but it's just a lower high. As long as the trend line drawn stays intact, the bears are in a good position. The CCI is currently oversold, so there is a oversold bounce, but from the looks of it there is no follow-through. As long as the trend line is intact along with the 8 period EMA, the bears have secured their position. Along with that we need to remember that BTC is priced against the dollar and the dollar index keeps getting stronger.
Below I have provided a link to a video where I give a brief technical analysis of BTCUSD, if you're interested in similar content please consider following me on trading view and subscribing to my YouTube channel.
Please like this post if you agree with the trade idea, so I know to push out similar content!
Below I have provided a link to a video where I give a brief technical analysis of BTCUSD, if you're interested in similar content please consider following me on trading view and subscribing to my YouTube channel.
Please like this post if you agree with the trade idea, so I know to push out similar content!