Bitcoin broke the channel
The ascending channel (red one) has been broken bearish, so the support has fallen. Bearish Engulfment successful
Bitcoin may now continue its falling way, but ATR has paused its raise, than we will have at least few hours of rest.
RSI is not strongly overbought and Kijun acted as a support for the spike of 17th February.
What do I expect?
There may be a fake breakout of the ascending channel for further drawdowns and during yesterday's drop, volume were really higher than today's.
I am bearish on the short term with 9.450$ that acted as my Entering Level, which I sold already at 9700$, since I did not expect further raise.
I will wait to enter again the market. Breaking again 10150$ would be a strong bearish signal, and in that case yesterday's movement was just a physiological retracement.
Leave a like and a comment to let me know what you think!
Mike
Bitcoin may now continue its falling way, but ATR has paused its raise, than we will have at least few hours of rest.
RSI is not strongly overbought and Kijun acted as a support for the spike of 17th February.
What do I expect?
There may be a fake breakout of the ascending channel for further drawdowns and during yesterday's drop, volume were really higher than today's.
I am bearish on the short term with 9.450$ that acted as my Entering Level, which I sold already at 9700$, since I did not expect further raise.
I will wait to enter again the market. Breaking again 10150$ would be a strong bearish signal, and in that case yesterday's movement was just a physiological retracement.
Leave a like and a comment to let me know what you think!
Mike
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