On a 4 hour chart we can see Bulls losing steem. First a dragonfly doji candlestick formed which represents big amount of bearishness. Few hours later a Tweezer tops formation can be seen. If BTC closes like that, we could see another fall to the new lower lows (5400-5700) as third Elliot downtrend wave will start forming (usually the nastiest one).
Other indicators are RSI where we can see lower highs and MACD where bearish divergency started forming.
We would need to see huge rally to 7600-7700 range to start changing market trend, but at this very moment that seems far away.
What do you think?
Other indicators are RSI where we can see lower highs and MACD where bearish divergency started forming.
We would need to see huge rally to 7600-7700 range to start changing market trend, but at this very moment that seems far away.
What do you think?
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I forgot to mention w can see Rising wedge also forming which is another bearish indicator.
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Guys sorry if price shows range cca 7 $, recently I have problems with tradeview -.-
Here is screenshot:
prnt.sc/kpq7a4
Here is screenshot:
prnt.sc/kpq7a4
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Market seems soooo resistant, but a lot of bearish signs are incoming. Also, big Tether transaction did not help the retracement. Time will tell.
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Big resistance on 5 min chart
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In the next 8 hours we will see HUGE movement on BTC. It just keeps trying and is rejected all the time.
For me there are two possibilities:
1. Whales go in and create immense short squeeze
2. Bully finally stop trying - candles say so. In the last 2 days they tried sooo much but did not succeed. Another bearish candles spotted - the ast two. Bulls tried and got rejected + bears try, got rejected BUT this time bulls did not even try (the order of candles concerns me)
Im so excited.
For me there are two possibilities:
1. Whales go in and create immense short squeeze
2. Bully finally stop trying - candles say so. In the last 2 days they tried sooo much but did not succeed. Another bearish candles spotted - the ast two. Bulls tried and got rejected + bears try, got rejected BUT this time bulls did not even try (the order of candles concerns me)
Im so excited.
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Mentioned short squeeze might also be bull trap, except if it is not another 1000 candle haha