Btc Bear scenerio

17 nov 2021

BTC trending downwards showing bearish price divergence and with rsi and mac d trending up on shorter time frames but price actions not following suit insinuating weakness in the market for the short term we would infer that a abc correction on the completion of the 5 wave is ahead of us. major point of support lies at the 62.8 fib level as well as a price action support line. everything lines up to wear mac d will not cross over to the negative on the daily adn rsi will go to a comfortable point on the daily.