BTC - Trendline Break, Bears Dominate
Hi Traders, Investors and Speculators of Charts📈📉
Sellers are showing up on lower timeframes and bears have taken control of the price action for the short term.
What seems likely here, judging by the technical indicator, is a rejection of the red RSI at 50 meaning a slow continued downtrend until the RSI rises above 60 in the daily.
From the Green EMA dropping sharply, we deduct that the sellers have taken control in the lower timeframes.
For now, the best course of action seems to be observing from the sideline and look for other trading opportunities with better risk/reward setups across the altcoin market.
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CryptoCheck
Sellers are showing up on lower timeframes and bears have taken control of the price action for the short term.
What seems likely here, judging by the technical indicator, is a rejection of the red RSI at 50 meaning a slow continued downtrend until the RSI rises above 60 in the daily.
From the Green EMA dropping sharply, we deduct that the sellers have taken control in the lower timeframes.
For now, the best course of action seems to be observing from the sideline and look for other trading opportunities with better risk/reward setups across the altcoin market.
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
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Cryptocheck Website
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SoftQuant Website
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