Hello everyone,
It is beautiful to see how bitcoin is still having its bearish divergence on the daily showing a weakening of the trend. For now BTC is holding its short term trend line which, as of right now, lines up very nicely with the 21 day EMA.
I think that a daily close under the 21 EMA as well as under the short term trend line, could result in a downwards rally to the 4850 to 5000 dollar levels (my box).
Looking at the chart I see a lot of things that look like the failed rally in 2015 and thus I'm feeling bearish TA wise. I'm also feeling bearish when I listen to the little bearish feeling in my stomach, but...
I see that a lot of the traders are starting to turn bearish and as a contrarian you shouldn't follow the herd.
again, I'm keeping an eye on the trend line and the 21 EMA. if they break and the price breaks my little box of support, I assume Bitcoin to set a higher low around the 4000 dollar level.
Good luck!
PGrijpink
It is beautiful to see how bitcoin is still having its bearish divergence on the daily showing a weakening of the trend. For now BTC is holding its short term trend line which, as of right now, lines up very nicely with the 21 day EMA.
I think that a daily close under the 21 EMA as well as under the short term trend line, could result in a downwards rally to the 4850 to 5000 dollar levels (my box).
Looking at the chart I see a lot of things that look like the failed rally in 2015 and thus I'm feeling bearish TA wise. I'm also feeling bearish when I listen to the little bearish feeling in my stomach, but...
I see that a lot of the traders are starting to turn bearish and as a contrarian you shouldn't follow the herd.
again, I'm keeping an eye on the trend line and the 21 EMA. if they break and the price breaks my little box of support, I assume Bitcoin to set a higher low around the 4000 dollar level.
Good luck!
PGrijpink