BTC down trend continues

Hello everyone,

Update on BTC. we moved down killing the long term bull trend ( 1D chart, check my trading view ) now the trend is down for the time being so:

Short positions is what its all about!

I'd expect BTC to retest its resistance, when is difficult to say but I'd hope it happens before we go below 7.1K~6.85.
still in a down trend even if we retest the resistance, so don't cheer for a long position yet since that is risky in a down trend.

why:
-Ichimoku indicating down wards movement.
- TK cross
- Volume since wedge 1 and 2.
- EMA 125 indicating strong move down
- EMA 25 for price trend
- higher time frame trends
- EMA 125 extend from price ( yellow arrow )

So what to watch for:
- EMA 25 price trend shift
- Cloud rejection(/entry) ( possible )
- TK cross
- EMA 125 as strong resistance
- Volume spike ( yellow box )

TLDR: Watch for a move up to remove the EMA gap, rejection afterwards for down trend continuation.

as always,
Happy Hunting!

评论:

watching the pattern but not tradeable for me since there isn't that much confirmation except for the wedge pattern and volume break out, I'd like more!

评论:

Breaking 7.2, potential for further move up.