BTC Update 08-May-19

In my previous post, I mentioned "Spinning Top Bearish Trend Reversal Candle" appeared in 4h chart.
Now it's supported by "Inverted Hammer Bearish Trend Reversal Candle" in 1D chart.

Technical Observations below.

------------------------ Price Action -------------------------
1. Channel Complete with ABCDE Wave Pattern
2. Price Action must come out of the Channel
3. Bearish Inverted Hammer Candle appeared
4. Huge RSI Bearish Divergence

------------------------ Conclusion --------------------------
1. Price Action will leave channel bearish.

------------------------ What If ------------------------------
#. Price Action leaves channel bullish.
1. It should be a Fake Out.
2. The trend reversal should be inevitable.
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Trade chiuso: stop raggiunto:

Left the channel bullish, which should be a fake out when the price will not go above 7000. It will come back into the channel again.