As you can see according to the chart bitcoin is in an ascending triangle. This is inherently a bearish pattern which ultimately leads to a break to the downside.
We can see on the daily the last 2 times bitcoin has had a negative cross on the macd bitcoin was sitting at the resistance of the channel and then moved down towards the channel support where we saw a bounce. This time is different - this time we are seeing the negative cross occur at the channel support!
Could this be the end of the road for bitcoin> we will need huge amounts of volume to ensure we continue upwards here
We can see on the daily the last 2 times bitcoin has had a negative cross on the macd bitcoin was sitting at the resistance of the channel and then moved down towards the channel support where we saw a bounce. This time is different - this time we are seeing the negative cross occur at the channel support!
Could this be the end of the road for bitcoin> we will need huge amounts of volume to ensure we continue upwards here