BTC/USD - 1W - Still Bearish
Updated
I need some hate in my life so I decided to publish a bearish chart (eyes rolling).
Overall BTC didn't manage to break the bearish structure (yet?). The weekly close is very important. If BTC close under the resistance lines and even better, under the HMA, I will continue to think that the last move up is the biggest bull trap of history.
Other points to consider :
- Price going up while volume is going down (and wow what a pity volume);
- There are bearish divergences on RSI and MACD histo (hiher highs in price action and lower lows on indicators);
- Yesterday pump smells fishy as hell.
Don't be too rude..
Overall BTC didn't manage to break the bearish structure (yet?). The weekly close is very important. If BTC close under the resistance lines and even better, under the HMA, I will continue to think that the last move up is the biggest bull trap of history.
Other points to consider :
- Price going up while volume is going down (and wow what a pity volume);
- There are bearish divergences on RSI and MACD histo (hiher highs in price action and lower lows on indicators);
- Yesterday pump smells fishy as hell.
Don't be too rude..
Note
***- There are bearish divergences on RSI and MACD histo (higher highs in price action and lower HIGHS on indicators);
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