STR?BTC get rejected by SMA (simple moving averages) and previous up trendline which is very bearish for current trend. Right now, the price action is teasing to break the support fibonnaci line which if it cant hold or manage to get above that line. would be a devastating dump for this asset.
Indicators :
MACD is building it's seller histogram sign of the bearish trend is still continue while macd line and signal line move away from 0 line which is bearish.
DMI is bearish while dmi-(red) above dmi+(green). DMX is still relatively weak (below 25) and beginning to rising slightly.
just like calm before a big volatility will coming.
volume MA is still low.. calm before a big volatility
This chart will invalidated if the price action manage to get above the support around 1500 satoshi, prolonged sideway around recent fibonacci line area or reversal pattern is being formed which i dont see it for current timeframe..
Please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
Comment:
adding some missing point that i forgot to add..
Comment:
currently it's knocking the hell's door, expect next support would be touch soon. as -DI is currently dominanting this chart...
Comment:
it's been fun shorting this asset for time being.. might will change my bias to bullish after it's already been fall in price to steep..
Trade closed: target reached