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Downtrend inside the uptrend BTC/USD
In my opinion, we will see a movement out of the uptrend before the end of the month to the levels of 8600 - 8700.
Here are a few reasons:
1. A downtrend has been forming for two weeks.
2. We can see a strong divergence of the BTC chart with the RSI and Volume charts.
3. At the moment, the bulls are trying to take the level of 0.5 Fibonacci (~9500), but so far without success. If the price do not rise above this level, then the probability of a continuation of a downtrend is high.
This post is only for educational proposes and does not provide financial advice.
Here are a few reasons:
1. A downtrend has been forming for two weeks.
2. We can see a strong divergence of the BTC chart with the RSI and Volume charts.
3. At the moment, the bulls are trying to take the level of 0.5 Fibonacci (~9500), but so far without success. If the price do not rise above this level, then the probability of a continuation of a downtrend is high.
This post is only for educational proposes and does not provide financial advice.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.