Bitcoin: Update! Bearish in Short Term but Bullish in Long Run

The crypto keeps providing movements that not always can be described as logical and predictable. But for crypto, it is ok.

In spite of a new high, I still stay with my bearish position. The price reached 9000.00 resistance level, and we got bearish candles. It confirmed the price reversal. The same goes about RSI and MACD histogram.

Another bearish signal is strong. It is a trend reversal signal which is based on a bearish divergence. If we follow it, we should expect the downward movement to 8000.00 support, and SMAs. The downward movement will be confirmed if the price breaks the local uptrend line.

The market stays bullish in the long run, but if we talk about the short term, I would like to be more bearish.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.