Short term bearish on BTCUSD
On the 4 hours chart, the price failed to tag the upperband and have just tagged the lowerband, which indicates weakness.
A lower high and a small triangle pattern have formed.
Reporting the height of the triangle, a target of -20% can be deducted if the price break down.
Possible supports on the way down: 5450, 5050, 4800.
Not taking position yet, waiting to see what bitcoin and the stock market are doing.
On the 4 hours chart, the price failed to tag the upperband and have just tagged the lowerband, which indicates weakness.
A lower high and a small triangle pattern have formed.
Reporting the height of the triangle, a target of -20% can be deducted if the price break down.
Possible supports on the way down: 5450, 5050, 4800.
Not taking position yet, waiting to see what bitcoin and the stock market are doing.