Possible trend reversal at BTC!
BTCUSDT signaled a few days ago that it respected the resistance of 51937 $ and will test the resistance of 45k.
We also have an outline of an LTB, forming a descending triangle with the supports below it.
To strengthen the signal, the RSI of 14 is forming descending tops and demonstrating that it will respect the resistance of 58.14
Parallel to this, Tekan-Sen (Green Line) has just been surpassed by Kijun-Sen (Red Line) in the Ichimoku Strategy indicating a possible change in trend that could be confirmed after the price stabilization below the Cloud.
Due to the Chikou-Span (orange line) being close to the price, I believe in a period of lateralization testing the 45k support q will cause the extension of the Kijun crossing in relation to Tekan indicating the reversal of the trend q we may be close to suffering in the BTCUSDT.
Given this context, the volume reduction present in BTCUSDT over the days is a strong sign that we may be ending the upward trend and entering a reversion to a Bear Market. Something that could be confirmed in the next few days.
If we close within the linear regression channel again, we will test the 34000 and if we lose this important support we will enter a strong downward trend and I believe that this is exactly what will happen.
Summarizing the signs of the reversal q we are close to experiencing through an own analysis for active followers of trend:
1. Kijun cross over Tenkan.
2. RSI (14) making descending tops.)
3. Respect the resistance of 51937 $
4. Decrease in volume
5. Formation of a low linear regression channel traced from the historic top until the 1st of March.
Changing the famous American saying to the new context of the crypt queen: "Sell in March and go away!"
We also have an outline of an LTB, forming a descending triangle with the supports below it.
To strengthen the signal, the RSI of 14 is forming descending tops and demonstrating that it will respect the resistance of 58.14
Parallel to this, Tekan-Sen (Green Line) has just been surpassed by Kijun-Sen (Red Line) in the Ichimoku Strategy indicating a possible change in trend that could be confirmed after the price stabilization below the Cloud.
Due to the Chikou-Span (orange line) being close to the price, I believe in a period of lateralization testing the 45k support q will cause the extension of the Kijun crossing in relation to Tekan indicating the reversal of the trend q we may be close to suffering in the BTCUSDT.
Given this context, the volume reduction present in BTCUSDT over the days is a strong sign that we may be ending the upward trend and entering a reversion to a Bear Market. Something that could be confirmed in the next few days.
If we close within the linear regression channel again, we will test the 34000 and if we lose this important support we will enter a strong downward trend and I believe that this is exactly what will happen.
Summarizing the signs of the reversal q we are close to experiencing through an own analysis for active followers of trend:
1. Kijun cross over Tenkan.
2. RSI (14) making descending tops.)
3. Respect the resistance of 51937 $
4. Decrease in volume
5. Formation of a low linear regression channel traced from the historic top until the 1st of March.
Changing the famous American saying to the new context of the crypt queen: "Sell in March and go away!"
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