BTC Flagging
1. Forming a bearish flag
2. Elliot wave: Price could reach wave C (Fib 0.38%) before dropping down to 8480 (Fib 1.618%)
3. RSI on 2H & 1D chart hidden divergence = Bearish
4. MACD below 0 = Bearish
5. Volume: No confirmation yet
#Macro related could justify the drop:
Although many believe BTC is a non-correlated asset, it is still not immune to a liquidity crisis. which we could see if economic bad data is published. Remember ALL Related to Dollar, Any rise in DXY is a bearish sign (for now I think):
BAD NEWS unsolved: No stimulus package from Congress, possible 2nd wave.
other related News this week :
Core Retail Sales
Retail sales
FOMC statements, press conference and economic projection
Feds Fund rate
unemployment claims
This is for educational purposes only, not intended as financial advice.
2. Elliot wave: Price could reach wave C (Fib 0.38%) before dropping down to 8480 (Fib 1.618%)
3. RSI on 2H & 1D chart hidden divergence = Bearish
4. MACD below 0 = Bearish
5. Volume: No confirmation yet
#Macro related could justify the drop:
Although many believe BTC is a non-correlated asset, it is still not immune to a liquidity crisis. which we could see if economic bad data is published. Remember ALL Related to Dollar, Any rise in DXY is a bearish sign (for now I think):
BAD NEWS unsolved: No stimulus package from Congress, possible 2nd wave.
other related News this week :
Core Retail Sales
Retail sales
FOMC statements, press conference and economic projection
Feds Fund rate
unemployment claims
This is for educational purposes only, not intended as financial advice.
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