Hello All,
Bitcoin is seeing some very bearish signs on the weekly chart. We had just seen 3 white soldiers pattern end with an ATH blow off top and grave stone doji. Historically this has marked the end of a run up.
Will it be the same this time?
In my opinion, I believe so. We are seeing a lot of bearish divergence on MACD/RSI. As well as bearish price action from 30k to 67k. Yes, we made an ATH but is this run sustainable for longer term growth? I believe not.
If 53k does not hold, our macro trend is at risk.
As always, be patient, use risk management, and good luck trading.
Bitcoin is seeing some very bearish signs on the weekly chart. We had just seen 3 white soldiers pattern end with an ATH blow off top and grave stone doji. Historically this has marked the end of a run up.
Will it be the same this time?
In my opinion, I believe so. We are seeing a lot of bearish divergence on MACD/RSI. As well as bearish price action from 30k to 67k. Yes, we made an ATH but is this run sustainable for longer term growth? I believe not.
If 53k does not hold, our macro trend is at risk.
As always, be patient, use risk management, and good luck trading.
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Follow us on twitter: twitter.com/Roman_Trading
Watch my livestreams: www.youtube.com/channel/UCrTMgyZA0lxAa5hrCHlRLeQ