Bitcoin BTCUSDT daily analysis (27 Feb 2020) - Wait to sell down

2020年2月27日

Bitcoin BTCUSDT daily analysis (27 Feb 2020) - Wait to sell down
Keep looking at $9050 and $9450 to sell down
------

Bitcoin BTCUSDT was pushed down to the 8600 from a peak of 10,000 to $9100 and then to $8600
Down trend with Three Falling Peaks pattern

BTCUSDT:
DOWN TREND
Breaking the 9000 area, BTCUSDT reversed from rising to falling in the short-term frame (H4).
The falling momentum - bearish momentum - is very strong.
Can see a series of candles down from 10,000 to $9100 then to $8600 in last 2 days.
The black/red candles dropped continuously and BTCUSDT
Last 2 days, not much recovery wave (H4, H1)

VOLUME
Volume supports this down trend momentum.
It can be seen that the volume increases steadily after each beat down.

OVERSOLD
In the current zone, $8600 the strong decline has made BTCUSDT fall into an oversold state
Oversold - indicated by the fact that the price is completely outside the lower edge of the Keltner Channel.
This can lead to an upside - throwback - to exit oversold before going down
Pull back before continue going down.
$9000 - 9100 zone is a strong PPZ (Price Pivot Zone) area.

CONSIDER
Can expect BTCUSDT to have a rally from $8600 to $9000 - $9100
Do NOT Buy or think this is a bottom fishing signal.
SHOULD wait to sell from the top down today (this is in line with the new downtrend)

Keep looking at $9050 and $9450 to sell down

GOOD LUCK AND SUCCESS!