Bitcoin shows bearish sign on RSI.
#-The Analysis is based on personal Knowledge of technical analysis , Please Do Not Take It as a Financial Advice, And Always Do Your Own Research.
## Technical analysis:
. BTCUSDT was Moving in a Triangular channel then IT had a breakout.
. After Breakout It started Following parallel Channel.
. The price is now Below 50 EMA and 20 EMA.( BEARISH SIGN )
#Three Important KEY level Which May require A retesting.
KEY LEVEL 1:- Around $64000. ( Previous ATH )
KEY LEVEL 2:- Around $61500. ( DUE Retesting OF Triangular pattern after breakout) )
KEY LEVEL 3:- Around $60000. ( Lower Edge Of the parallel Channel )
Support Around $58500 Is very Strong.
#Bearish Sign.
.THE RSI made a Lower high and at the same time price movement made a higher high,
This kind of divergence is a BEARISH SIGN.
. Also Its Price is below 20&50 EMA which is also a BEARISH SIGN.
If You Loved This Analysis ❤️ Hit the LIKE button
Drop some feedback below in the comment !
Trade well. ❤️
## Technical analysis:
. BTCUSDT was Moving in a Triangular channel then IT had a breakout.
. After Breakout It started Following parallel Channel.
. The price is now Below 50 EMA and 20 EMA.( BEARISH SIGN )
#Three Important KEY level Which May require A retesting.
KEY LEVEL 1:- Around $64000. ( Previous ATH )
KEY LEVEL 2:- Around $61500. ( DUE Retesting OF Triangular pattern after breakout) )
KEY LEVEL 3:- Around $60000. ( Lower Edge Of the parallel Channel )
Support Around $58500 Is very Strong.
#Bearish Sign.
.THE RSI made a Lower high and at the same time price movement made a higher high,
This kind of divergence is a BEARISH SIGN.
. Also Its Price is below 20&50 EMA which is also a BEARISH SIGN.
If You Loved This Analysis ❤️ Hit the LIKE button
Drop some feedback below in the comment !
Trade well. ❤️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.