Short Term Bearish Future for BTC ๐๐ปโโ๏ธ๐๐ปโโ๏ธ๐๐ปโโ๏ธ
Greetings,
We're looking at BTC on a 4HR time frame, for now it's showing more signs of a bearish future. Significant daily closes below the yellow trend line is my main indicator for this. Right now we've had a few days in the red so we can expect to find some support between 38/39 K.
BTC 1D Chart
This is showing multiple daily closes under the YELLOW trend line. Which is not a positive sign for BTC over the next month, I expect it to track sideways for a the following month
USDT.D Chart
Above we can see that funds are being piled into USDT dominance, it's reaching for it's "danger zone". I can see this peaking around the 5.3% area, which will drive the price of bitcoin to lower levels which could make for a good buying opportunity.
Resistance Range;
42k-45k is still a heavy resistance zone - I am not in a bullish mindeset for BTC until we reach these points.
Remember nothing is guaranteed, control the controllable.
Mogues
We're looking at BTC on a 4HR time frame, for now it's showing more signs of a bearish future. Significant daily closes below the yellow trend line is my main indicator for this. Right now we've had a few days in the red so we can expect to find some support between 38/39 K.
BTC 1D Chart
USDT.D Chart
Resistance Range;
42k-45k is still a heavy resistance zone - I am not in a bullish mindeset for BTC until we reach these points.
Remember nothing is guaranteed, control the controllable.
Mogues
