Highlighted previously, BTCUSD had reasched an obvious stalling point, and then turned down after a double top, made a decent retracement low, worked its way back up for a lower high, and made a series of small lower highs.
It is currently below the 55EMA, which is also flattening out, and just popped below 34.5K, looking for the next lower low. This view is technically supported by MACD cross down and cross over into bearish territory; as well as the RPM crossing down below zero as well.
Previously marked out wave pattern, this downdraft should find support at about 28K by the weekend for a good short ride down...
It is currently below the 55EMA, which is also flattening out, and just popped below 34.5K, looking for the next lower low. This view is technically supported by MACD cross down and cross over into bearish territory; as well as the RPM crossing down below zero as well.
Previously marked out wave pattern, this downdraft should find support at about 28K by the weekend for a good short ride down...
