Not Looking Good for BTC
Despite the bullish news with Biden indirectly accepting BTC as a thing, and plenty of bullish news regarding alts…
…the chart is looking choppy. And there are no clear signs of reversal. If anything this pattern is beginning to look like a bear flag.
Although a mix of bullish/bearish signs, I’m leaning bearish here, short term. Although I’m unsure.
BTC needs to get above and stay above 40 in the next 28 hours for the bulls.
With that last weekly bearish inverted hammer candle, this weekly candle will be bearish (inverted hammer) also if 40 isn’t regained and held.
Meanwhile other recession stocks are pumping. Which is strange, perhaps now that BTC is considered currency (formally), I understand the the bullish argument well, but there are too many people who think the same, and it’s almost too obvious.
I get nervous when everyone else shares my bullishness.
All I’m saying is be careful here. The chart is not screaming bull, it’s not screaming anything.
Low volume, and twice rejected from 60. High timeframes look bearish and low times frames do not show clear reversal.
Be the change you want to see in the world. Be safe, or awesome!
…the chart is looking choppy. And there are no clear signs of reversal. If anything this pattern is beginning to look like a bear flag.
Although a mix of bullish/bearish signs, I’m leaning bearish here, short term. Although I’m unsure.
BTC needs to get above and stay above 40 in the next 28 hours for the bulls.
With that last weekly bearish inverted hammer candle, this weekly candle will be bearish (inverted hammer) also if 40 isn’t regained and held.
Meanwhile other recession stocks are pumping. Which is strange, perhaps now that BTC is considered currency (formally), I understand the the bullish argument well, but there are too many people who think the same, and it’s almost too obvious.
I get nervous when everyone else shares my bullishness.
All I’m saying is be careful here. The chart is not screaming bull, it’s not screaming anything.
Low volume, and twice rejected from 60. High timeframes look bearish and low times frames do not show clear reversal.
Be the change you want to see in the world. Be safe, or awesome!
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