Currently there are many reasons to be bearish
1. WE are below daily 200MA
2. a possible Death Cross in Daily
3. we have broken down the symmetrical triangle which is a down side continuation pattern
4. Monthly has formation of Evening star setup
5. in general we are downtrend
Some Reasons why I think there's still light for the bulls
1. in multiple timeframes I am seeing signs of weakness on our downward direction ( You can check wyckoff SOW indicators.. i have no time to discuss them all here)
2. multiple timeframes are oversold and possible formation of obvious divergences
3. we haven't touched the weekly 50MA yet
4. stochastics are over over sold with rsi in daily
I think we are out of steam to break the 28-30k Level. but its a different story if the price consolidates again that area. Im still on the bulls side until I see the break of the trading/consolidation range
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DISCLAIMER: This is NOT FINANCIAL ADVICE.. THIS IS FOR EDUCATIONAL PURPOSES ONLY
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update From
1. WE are below daily 200MA
2. a possible Death Cross in Daily
3. we have broken down the symmetrical triangle which is a down side continuation pattern
4. Monthly has formation of Evening star setup
5. in general we are downtrend
Some Reasons why I think there's still light for the bulls
1. in multiple timeframes I am seeing signs of weakness on our downward direction ( You can check wyckoff SOW indicators.. i have no time to discuss them all here)
2. multiple timeframes are oversold and possible formation of obvious divergences
3. we haven't touched the weekly 50MA yet
4. stochastics are over over sold with rsi in daily
I think we are out of steam to break the 28-30k Level. but its a different story if the price consolidates again that area. Im still on the bulls side until I see the break of the trading/consolidation range
##########################################################################################
DISCLAIMER: This is NOT FINANCIAL ADVICE.. THIS IS FOR EDUCATIONAL PURPOSES ONLY
##########################################################################################
update From
