BTCUSDT: Signals point Bearish, Where does it stop?

BINANCE:BTCUSDT   Bitcoin / TetherUS
I am new to TA's so I would love some feedback on the graph above.

I was expecting yesterday's low to continue and was bummed when my orders did not get filled and I missed the run up today. But that being said, it does not appear to me that the bulls have completely taken over. Above is my ongoing Binance BTCUSDT chart. It looks to me that a downward channel has started to form. Using Elliot Wave 12345, it looks like the recent short has formed its fourth wave and possibly resuming its downward trend. I utilized the 1 hour for the 5 subwave count. I know that the 3rd wave is to be the longest, do the 1st and 5th wavelength have any correlation?

To me, TECHNICALLY:it looks like volume is decreasing - bearish , MACD peaked and is on its downward trend - Bearish , STOCH RSI is oversold - bearish . FUNDAMENTALLY: thus far failed to breakout of the downard channel - bearish , testing the 0.382 Fib. channel - undecided, and elliot wave is point down - bearish .

Does this approach seem accurate, if not what am I missing? Any Tips or Tricks?

Thanks ahead of time on your feedback
You meant overbought on the RSI?
jmgardner wanghaoaq18
@wanghaoaq18, nice catch, yes
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
AR العربية
HE עברית
首頁 股票篩選器 外匯篩選器 加密貨幣篩選器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
概述 個人資料設定 帳戶和帳單 我的客服工單 聯絡客服 發表的想法 粉絲 正在關注 私人訊息 在線聊天 登出