XBTUSD BTCUSD quite a few bearish looking signals
1) Losing momentum challenging the 12H 200 EMA
2) Losing momentum challenging the 1D 100 MA
3) Losing momentum challenging the 4H 50 EMA
4) Bearish pennant formed by red dashed lines
5) Potential mini head and shoulders pattern forming on the 1H
6) Potentially constrained by the RSI arc (totally speculative - something i've been toying with today)
2) Losing momentum challenging the 1D 100 MA
3) Losing momentum challenging the 4H 50 EMA
4) Bearish pennant formed by red dashed lines
5) Potential mini head and shoulders pattern forming on the 1H
6) Potentially constrained by the RSI arc (totally speculative - something i've been toying with today)
Comment:
7) Retest of 4D chart's 50 RSI support line in progress with stochastic heading downwards
Comment:
If you look *REALLY* closely you can see that at the moment i took this shot the 4D RSI was about a pixel below the 50 RSI line :-] Don't think that counts for much but made me giggle
Comment:
8) Ascending wedge
Comment:
Overnight the upward progress ran out of steam and it appeared that the 4H 50 EMA was too much resistance to overcome. The ascending wedge broke this morning and we're now in full bear territory. What was support around 11.2 now appears to be acting as resistance and we should head down to 10 once we're through 11.2 and 10.8 (if memory serves) levels. There appears to be little support after 10k so we could be off to the high 7s or mid-8s. Yay if you're short but consider closing if you're long?