Based on BTC daily chart, it is unable to hold .236 fib level at $38.2k and a retest of this resistance has been rejected strongly. BTC in the short term will retest the support at around $35k if current support at $36k is unable to hold.
An apex triangle is still in play currently which gives us a bearish pennant which will bring the price to a lower level.
Stochastic RSI had indicates a bearish cross and a downward momentum which validates the next downward price movement.
Bollinger Band indicates a sharp movement will occur very soon as both of the band is squeezing tightly. A downward movement is very possible due to BTC rejected from the 20 BB basis line.
We still may see BTC price surge but this do not indicates that BTC is bullish in the short term. Currently all indicator is indicating a retracement will happen soon.
An apex triangle is still in play currently which gives us a bearish pennant which will bring the price to a lower level.
Stochastic RSI had indicates a bearish cross and a downward momentum which validates the next downward price movement.
Bollinger Band indicates a sharp movement will occur very soon as both of the band is squeezing tightly. A downward movement is very possible due to BTC rejected from the 20 BB basis line.
We still may see BTC price surge but this do not indicates that BTC is bullish in the short term. Currently all indicator is indicating a retracement will happen soon.
