- As per my Elliott Wave technical analysis - it looks like the massive impulse wave can be completed and we are now headed to a retracement.
- On the weekly chart we have a shooting star - bearish candle with a long wick ( PIN BAR )!
- If we take a look at the RSI indicator on this chart, we can see a bullish divergence , which is a pretty strong bearish signal.
- We don't really know how deep the retracement will be, but we can go back down to the acceleration point + 0.618 FIB.
- MACD histogram is going down and loosing momentum, which is a sign of weakness.
- Look at my ideas about Bitcoin, Ethereum and TOTAL crypto cap in the related section down below ↓
- For more content, please hit "Like" & "Follow"!
- On the weekly chart we have a shooting star - bearish candle with a long wick ( PIN BAR )!
- If we take a look at the RSI indicator on this chart, we can see a bullish divergence , which is a pretty strong bearish signal.
- We don't really know how deep the retracement will be, but we can go back down to the acceleration point + 0.618 FIB.
- MACD histogram is going down and loosing momentum, which is a sign of weakness.
- Look at my ideas about Bitcoin, Ethereum and TOTAL crypto cap in the related section down below ↓
- For more content, please hit "Like" & "Follow"!
