🅱️ Bitcoin's Renko Chart Predicts Change Of Trend

➖ We have a sell signal on the daily Renko chart still in the making.
➖ The 4H is full bearish already while pointing lower.
➖ The weekly is still green, a closes below 40,000 we get the first sell signal there as well.

Let's look at the charts.

4H Timeframe:

✔️ Easy to see the resistance and inverted triangle.
✔️ Moving below EMA50 on the current session.
✔️ Pretty clear.

Daily Timeframe:

✔️ The red brick already showing but not in yet. A close below 40,000 needs to happen daily for this signal to confirm.
✔️ We could say it is early on this timeframe.

Let's wait for the week to close to revisit and see how the Renko chart is doing.

👉 We have early reversal signals coming from this charting system.
👉 The Renko system is saying that a potential change of trend is already developing.

Namaste.

Commento:

Updated Renko chart

Daily (sell signal is now in/confirmed)

Weekly (no new bricks since early Dec.)
A red brick coming out... Bearish