- BTC tried to regain the Tenkan this weekend but instead dumped making lower lows
- We can see that the cloud did look like it might start to contract last a few weeks back but we have dropped lower yet again signaling lower price incoming unless we get a strong move up here
- Kijun has crossed over the Tenkan on a very bearish cross
- Price could still spike up and test these lines before making a test at lows
- The lagging span has also crossed below price, which is another bearish sign
- If bulls want to change the picture we are currently painting, they need to get on their horses and FAST!
- Shorting a test higher would provide a better R:R but shorting with a tight stop here could prove to be profitable as well
Thanks guys!
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*bullish sign, my mistake on the TK cross