As can be seen on the chart BTCUSDT is meeting double resistance lines.
Expect a drop from here. On the daily time frame we can see a pin bar under construction.
Wait for a correction and look for a long entry around 19000..
Expect a drop from here. On the daily time frame we can see a pin bar under construction.
Wait for a correction and look for a long entry around 19000..
Comment:
The price is moving in a channel. Now we need to wait for a breakout.
As stated before, a breakout to the downside is more likely, keeping in view that a correction is due and we have bearish divergence on RSI.
As stated before, a breakout to the downside is more likely, keeping in view that a correction is due and we have bearish divergence on RSI.
Comment:
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Comment:
The volume has dried down. A lull before the storm.
More validation that uptrend is ending. Now it needs to be seen whether we have a correction or it was a dead cat bounce. If it was a dead cat bounce than BTC may break the low and drop to 10000 or lower.
If we have a correction than it should drop to around 19000 at least.