BTC/USDT is in a bearish trend forming a Bear Flag. The price action has bounced off an important Support Zone and formed a Bear Flag which seems to have been broken.
The Bearish Bias is based on the following signals:
Expecting bears to push prices lower.
Trade safe. Hit like & follow for more analysis.
The Bearish Bias is based on the following signals:
- Bearish trend (price making LHs and LLs)
- GMMA: Slow MAs above fast MAs
- Slow MAs acting as dynamic resistance
- Bear Flag breakout with bearish engulfing on LH
- RSI under 50 and not near oversold levels
- OBV convergence with price (downtrend has conviction)
Expecting bears to push prices lower.
Trade safe. Hit like & follow for more analysis.