Bitcoin / TetherUSShort
Waiting for confirmations of a BTC downfall
1. BTC increased from 12k to over 40k with a strong, increasing and healthy volume. Yet its 2nd increase from 27k to over 60k was accompanied with a decrease in volume. From that, we can also observe abearish divergence shown in RSI and the price (black arrows)
2. The red line support on RSI was broken down with a huge volume (blue ellipses) then the price went back up to retest that red same support line which became a resistance. As you can see the current candle shows a reject from that resistance, so if this candle close the same direction as it is now, we can confirm a that BTC downfall will take place soon, which, I believe, will drive BTC price back to 45k-50k zone. (If the candle closes that way, we can also notice another bearish divergence on RSI too).
2. The red line support on RSI was broken down with a huge volume (blue ellipses) then the price went back up to retest that red same support line which became a resistance. As you can see the current candle shows a reject from that resistance, so if this candle close the same direction as it is now, we can confirm a that BTC downfall will take place soon, which, I believe, will drive BTC price back to 45k-50k zone. (If the candle closes that way, we can also notice another bearish divergence on RSI too).
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