Dear Crypto addicted, fan, lovers, haters, whatever,
in the past days huge capital injection to raise BTC from the annoying sideway 6.5-7k to 8k peak, volume also temporary increased from 4-5MM to 9MM per day.
Is that a reversal of the downtrend to an unexpected uptrend??
I don't think so, we currently are still below the channel top of the main downtrend coming from 20k. (log and linear)
RSI and MACD are strongly signing for a down correction, BTC is overbought and RSI is diverging.
This scenario is very similar to the one we experienced couple of weeks ago.
We are expecting a second green leg to around 8.5-8.7k and then a very strong correction.
So very probable a downtrend in the next hours.
Stay tuned and like, share comment if you enjoyed the TA.
*this is just my opinion I'm not a professional advisor! Make your choices wisely and manage your risks!
in the past days huge capital injection to raise BTC from the annoying sideway 6.5-7k to 8k peak, volume also temporary increased from 4-5MM to 9MM per day.
Is that a reversal of the downtrend to an unexpected uptrend??
I don't think so, we currently are still below the channel top of the main downtrend coming from 20k. (log and linear)
RSI and MACD are strongly signing for a down correction, BTC is overbought and RSI is diverging.
This scenario is very similar to the one we experienced couple of weeks ago.
We are expecting a second green leg to around 8.5-8.7k and then a very strong correction.
So very probable a downtrend in the next hours.
Stay tuned and like, share comment if you enjoyed the TA.
*this is just my opinion I'm not a professional advisor! Make your choices wisely and manage your risks!
Comment:
booooooom! perfect match of the trend!