BitcoinShort
Bitcoin - Sell In May & Go Away
Updated
Looks like a possible continuation triangle pattern with volume /distribution towards the top of the triangle.
ABCDE pattern could be completed with possible break down/continuation to the downside in the future.
Recent price action slightly broke out of the triangle pattern but it looks like that was to go up and touch the volume point of control which was around 37, 915.
Expecting more downward movement in the short/medium term.
ABCDE pattern could be completed with possible break down/continuation to the downside in the future.
Recent price action slightly broke out of the triangle pattern but it looks like that was to go up and touch the volume point of control which was around 37, 915.
Expecting more downward movement in the short/medium term.
Note
Strong sell signal on the monthly confirmed via wavetrend oscillator. Last time we had one of these signals was in 2017 Note
Hidden bearish divergence on the daily chart Note
In a bearish trend, RSI usually doesn't go much higher than the 55-60 level before turning back down. It looks like the 3 hour RSI is ready to turn back down now Note
With the candles hidden, we can see that the 12H Tenkan & Kijun are tightly paired and angled sharply down Note
1 month Ichimoku Kumo Cloud support is at 10k. Will we touch that sometime before 2023? I would imagine so. Note
Interesting spot for the Volume Point of Control to be located at Note
The Volume Supported Linear Regression Oscillator on the 4 day chart shows that we have been in a long term downtrend since 4/15/21 and we are just now about to cross the zero mid-line of the oscillator on the short term. 
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