Bitcoin / TetherUSShort
Bitcoin Daily Analysis
Updated
On the 1 day chart, Bitcoin is now below the 200 and the 233 EMA . (yellow and orange)
The 20 SMA (pink) has met the consolidation triangle at the top of the current candle. Usually the price of bitcoin follows the 20 SMA closely if you look at the past price action.
Yesterday we had a bearish engulfing candle.
With the combination of these things, I would expect continuation to the downside today.
The 20 SMA (pink) has met the consolidation triangle at the top of the current candle. Usually the price of bitcoin follows the 20 SMA closely if you look at the past price action.
Yesterday we had a bearish engulfing candle.
With the combination of these things, I would expect continuation to the downside today.
Note
You can also draw trend lines on indicators/oscillators. Looking at this oscillator, it looks like we have reached the top of the trend and would be ready for a move back down soon Note
Note
Looks like we fell out of the triangle on the 3 day chart Note
Looks like plenty of downside ahead on the Volume Supported Linear Regression Note
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