Red flag! Buyers beware...

17 ม.ค. 2020

Currently there is a lot of bullish sentiment. There have been some strong moves up in the last week with some modest volume, and we currently see the breaking of a bullish flash on the short term (not seen on chart).
However, I feel the chart shows us moving lower in the coming weeks.
As shown on the chart, we are approaching the 200 day MVA, some major resistance (look back as far as 2017 to see where), and are still in a downtrend. I would not be buying in this market but rather waiting for some solid resistance to even consider going long; the $6000 mark would be a nice level to find support.

Share your thoughts on the current price action.

22 ม.ค. 2020

บันทึก

BTC has reacted to the resistance forming another lower high in the channel. We haven't reacted as strongly as previous touches to the top of the channel, which could indicate another exhaustion move towards the top of the channel or possibly above it.
On the daily RSI you can see bearish continuation, with BTC still over bought.

If BTC forms a strong candle above the channel and closes here, we will need to reassess the possibility of going higher.