BTC will flush some more
The Chaikin Money Flow has selling pressure on the 1hr and 4hr charts.
The RSI has bearish divergence on the 4 hr, 12hr and daily charts.
The overall volume is getting lower.
Moving averages are looking bearish across multiple time frames.
I think we are still standing falsely 1000 dollars up from that short squeeze.
Bitcoin just can't seem to bounce with any conviction from the 9100 range.
This short consolidation in the 9100 range is like an eternity after already having come down three legs from the 9900 range.
I think bitcoin is going to go down some more in the next 12-24 hours; probably at least to 8800. We'll see if it bounces up from there.
The RSI has bearish divergence on the 4 hr, 12hr and daily charts.
The overall volume is getting lower.
Moving averages are looking bearish across multiple time frames.
I think we are still standing falsely 1000 dollars up from that short squeeze.
Bitcoin just can't seem to bounce with any conviction from the 9100 range.
This short consolidation in the 9100 range is like an eternity after already having come down three legs from the 9900 range.
I think bitcoin is going to go down some more in the next 12-24 hours; probably at least to 8800. We'll see if it bounces up from there.
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