Will The Bear Market Continue?
Generally mixed signals between the midterm and short term view on the Bitcoin price. We see some bullish signs of reversal in RSI but too soon to say whether we will see a price jump in the nearest future.
Mid Term View: BEARISH
- Haven't crossed the 55 or 100 EMA in 2 months.
- Would need a lot of strength to break both channel and EMA resistance.
- Leaning towards a bearish view for now even though we see higher lows on the RSI.
Mid Term View: BEARISH
- Forming a bearish diagonal pennant/bear flag on both price and RSI.
- Need a lot of strength to break the channel resistance
- Still $5,200 target.
- Will be looking to make a short trade when we're nearing the apex of the pennant or top of channel.
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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.
thank you ben for that nice TA :)
really looking forward to each of your analysis even though it breaks my heart time after time seeing ur bearish headlines !
Thanks, just being transparent :) Looking forward to when the bull run comes