BTCUSDT, Daily Technical Analysis (Friday, 14 Feb 2020)
BTCUSDT, Daily Technical Analysis (Friday, 14 Feb 2020)
Wait to buy $9.600 – sell $10.200
BTCUSDT at the end of the week had another bearish wave
Pushing it down to close to 9600 before rebounding as it is now $9800.
This decline has been expected by our brothers through abnormal signs on the previous chart, so we are not too surprised.
The uptrend starts showing signs of turning to the downtrend
Cutting down EMA 26 then EMA 50 and now EMA100 ($9780 - $9480 down trend confirm)
The bullish channel - has been broken
The bearish channel - has formed
Most importantly, a reversal pattern from up to down
Head and Shoulders Pattern - which is forming, down trend may start.
From the signs:
- We can choose to follow the sell contract for BTCUSDT
- Wait to buy $9.600 – sell $10.200
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Moving Average road map:
20-day EMA - Pullback Support
50-day SMA - Uptrend Defense Line
100-day SMA - Big Price Dip
200-day SMA - Bull’s Last Stand in an uptrend, bears last stand in a downtrend
Wait to buy $9.600 – sell $10.200
BTCUSDT at the end of the week had another bearish wave
Pushing it down to close to 9600 before rebounding as it is now $9800.
This decline has been expected by our brothers through abnormal signs on the previous chart, so we are not too surprised.
The uptrend starts showing signs of turning to the downtrend
Cutting down EMA 26 then EMA 50 and now EMA100 ($9780 - $9480 down trend confirm)
The bullish channel - has been broken
The bearish channel - has formed
Most importantly, a reversal pattern from up to down
Head and Shoulders Pattern - which is forming, down trend may start.
From the signs:
- We can choose to follow the sell contract for BTCUSDT
- Wait to buy $9.600 – sell $10.200
------
Moving Average road map:
20-day EMA - Pullback Support
50-day SMA - Uptrend Defense Line
100-day SMA - Big Price Dip
200-day SMA - Bull’s Last Stand in an uptrend, bears last stand in a downtrend