BTC has been bearish over the last week or so, but why? On the chart you can see I've attached a photo of a double top pattern, which is exactly what BTC has formed and played out the last couple of days. There's not much to say about this pattern as it's self explanatory. Looking at patterns is a really good way to predict future price movement as you can see this pattern played out exactly like the photo. You can google these patterns as there are loads of them.
Now looking at the chart there's not a lot we can use to infer where BTC will move next, however the RSI is becoming oversold on D1 and is moving towards its support line. I'm looking for a small bounce here but I'll need to do some more analysis tomorrow which I will share.
Hope this post helped:)
Trade safely
Now looking at the chart there's not a lot we can use to infer where BTC will move next, however the RSI is becoming oversold on D1 and is moving towards its support line. I'm looking for a small bounce here but I'll need to do some more analysis tomorrow which I will share.
Hope this post helped:)
Trade safely