BTCUSD 6/22/2021

22 jun 2021

Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
________

Due to Bitcoin Mining Ban in China, Miners most likely selling their Crypto Holdings to transport the Equipment outside China. The Global Hash Rate of the Bitcoin Network is declining for the past 3 months rapidly. I think these selloff may continue if $ 29,300.00 is broken.

I shorted at $35,500.00 with stop at $ 33,500.00

Previous TA

_________

Technical Analysis

Elliot Wave
Unfortunately, Scenario 1 is previous TA may not play out now. Right now, it’s scenario 2 with an add-on of Pitchfork. Price may get lower as low as 14.7k to 20k. Please see to previous TA.


1M
If no retest of RSI 60 Levels, next is retest of RSI 50 Level.
Stoch RSI & MACD, Downtrend.
Hoping for MACD not to bearish crossover. (If it will, game over)


1W
In the chart.


1D
In the chart.


4HR & 1HR
In the Chart.


__________

Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT