BTC has had a huge rally since 6.7k .. one factor was the short squeeze. However, the volumes are beginning to decrease which is usually normal after a breakout.
What is weird to me is that although we broke out of the supposed downtrend line we didn't get a huge rally which shows that there is still no strength in the market.
What I am expecting now is a minor correction downwards followed by a relief rally which keeps us inside the channel drawn. Probably up to 8.5k followed by a drop to either 7.5-7.8 to form a higher low which would be a further step forward in confirming that we are turning into a bullish market. Otherwise, we will keep dropping down and realise this was nothing but a bit of manipulation within the price by whales.
RSI shows hidden bearish divergence. Daily RSI is in oversold ..
What is weird to me is that although we broke out of the supposed downtrend line we didn't get a huge rally which shows that there is still no strength in the market.
What I am expecting now is a minor correction downwards followed by a relief rally which keeps us inside the channel drawn. Probably up to 8.5k followed by a drop to either 7.5-7.8 to form a higher low which would be a further step forward in confirming that we are turning into a bullish market. Otherwise, we will keep dropping down and realise this was nothing but a bit of manipulation within the price by whales.
RSI shows hidden bearish divergence. Daily RSI is in oversold ..
註釋
looking like a massive rising wedge in a bearish market .. we should get the next drop after we touch the upper channel line one last time ..註釋
broke support line* of bottom channel.註釋
Overall, this means that we are still in a bearish trend until proven otherwise, aka if we consolidate to 7.5k and actually have a strong bounce from in and around that area we could see higher numbers.
手動結束交易
manipulation prime. We will see 10.4 before whales decide whether we are bullish or bearish.註釋
Declined at 10k. Got the drop to 8.5k. Should still see further drop.Big ooft
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Big ooft
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