Bearish Structure in Bitcoin
BTC is bearish for the time being. Why?
1. FEMA (Custom Fragmented EMA) is showing a bearish trend as the lines are stacked negatively
2. Multi-Acceleration tool (Custom yellow bar-graph below) is overall below zero. The only times it was above zero, was very good-timed short entries as marker with red arrows and purple triangles above.
3. The overall structure is very bearish, with Bitcoin making lower highs(LH) and lower lows(LL).
For it to restart the bullish trend, few things need to happen:
1.Bitcoin needs to make a Higher low (HL) instead of continued lower lows(LL) and
2. Prior Lower High (LH) needs to be broken.
Only at that point, the bearish structure will be broken and a possible reversal will happen.
For time being, higher probability play is to short every passing Lower High (LH).
1. FEMA (Custom Fragmented EMA) is showing a bearish trend as the lines are stacked negatively
2. Multi-Acceleration tool (Custom yellow bar-graph below) is overall below zero. The only times it was above zero, was very good-timed short entries as marker with red arrows and purple triangles above.
3. The overall structure is very bearish, with Bitcoin making lower highs(LH) and lower lows(LL).
For it to restart the bullish trend, few things need to happen:
1.Bitcoin needs to make a Higher low (HL) instead of continued lower lows(LL) and
2. Prior Lower High (LH) needs to be broken.
Only at that point, the bearish structure will be broken and a possible reversal will happen.
For time being, higher probability play is to short every passing Lower High (LH).
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