Harrysmccann
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BTC/USDT POLONIEX SHORT TERM BEARISH ANALYSIS

POLONIEX:BTCUSDT   Bitcoin / Tether USD
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Standard BTC-USDT Chart - Note this is charted to Poloniex, other exchanges will yield different results.

Bearish Data - (V Strong Signals)
Looking at candles alone its simple
Strong Sell On The Daily Candles From The TDI
Price is below the Kumo Cloud
Price is below the Kijun Sen
Price has just broken the recent fractal to fractal trend line and the previous fractal support line.
Aligator Is Sleeping
CCI is below -100 and still looking to drop further

Bullish Data - Weak overall
STRSI - Oversold
STRSI - (V Weak) K Line looks to be trying to rise above the D which could signal a trend reversal
RSI - Oversold

If the close is below $7640 on the daily then we could see another dip closer to the $6800 - $6250 range.
Support:
0.23 Fib @ $6287
Pivot @ $6500
Trend Support @ $6800

Comments

Bounced straight of the Support (S1)
Reply
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