Btc failed to break horizontal resistance
A lot of people got excited about the PA yesterday seemingly breaking out of the falling wedge structure to the upside. There was a lot of euphoric hysteria. However it was a false break, and there were were multiple bearish divergences forming on the 15/30/1 hour time frames that reflected it as such. Price has been rejected and I expect BTC to fall to 55k and possibly 52k.
When almost every single trader on tradingview is calling for a new ATH and 100k, 150k etc.... You have to be realistic and keep your guard up.
-ADX is showing consolidation with bearish pressure dominating.
-Another lower high on the 4 hour chart.
-Volume is less than it was the previous time we visited 60k.
Still short.
When almost every single trader on tradingview is calling for a new ATH and 100k, 150k etc.... You have to be realistic and keep your guard up.
-ADX is showing consolidation with bearish pressure dominating.
-Another lower high on the 4 hour chart.
-Volume is less than it was the previous time we visited 60k.
Still short.
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