BTC has shown its trend. If you look at BTCUSD in isolation you might look at this chart slightly more bearishly, but BTC has been driven higher by a shift from ETH tokens to BTC. The result is that you might read this more negatively than it should read. We look at us in a triable formation and that flag has yet to be broken. You can draw it differently and get a different result, but even then I would argue its a false break out. Volumes are low and if anything, both fundamentals and oversold conditions developing in other currencies its time to get long, not short the complex. But given BTC.D, I would look at ETH (at current levels and also my least favorite ), BNB, BCH and BSV.
Comment:
I see lots of trend followers are beating the drum to sell BTC here! Bad idea, the volume doesn't confirm the flag formation for one..second Gold is still strong, I cant sell BTC when Gold is on the highs and BTC is talking a dip...this is a buying opportunity plain and simple....what is really happening here has to do with BTCs recent explosion in dominance, that is driving crosses down. We may see a bit more selling, but this is an accumulation opportunity. I would actually be buying BCH here, but nothing wrong with BTC too.