Reminder of current bearish factors : - a large bearish flag - a strong MACD divergence - a huge RSI divergence - a steady increase in institutional short positions (COT report) - a significant drop in volumes these last months - a weekly bearish MACD cross - a death cross in progress - the great powers want to regulate the market - China fights mining
In closer time frame, I am looking to figure out how the price reacts in the green wedge below.
(for intraday long on alt)
The main the target is of course the break out of the top 35k
Today we saw that bearish divergence h1 on MacD, it made the job by rejecting the price at the 35k border.
Let’s see today if it’s the time for a rally to the south border or if we just need to take a breath before a new try… Or if we drop deep into your short trade…
BITCOIN IS KING! Up we go.
Thanks for sharing.