Or maybe not...
After failing to break upward 48h ago and downward 24h ago, and producing lower highs and significant higher lows since beg of Feb, would today be the day of a BTC trend confirmation ?
Volumes are lower than yesterday, MACD is flat, Bollinger narrows. check out the same situation on 27 Jan, followed by a bull trap into the downward breakthrough.
Bulls should still be considering a rebound to 11.5k.
Bears a drop to 4.5k to 4k now.
I have reconsidered my bearish views to neutral as I edged my position.
* I've added the rainbow Fibs retracement (From 09/2017 3k to ATH) if any takeaways, I see drop #1 => 50% drop #2=> 62%, drop #3 78.6%.
After failing to break upward 48h ago and downward 24h ago, and producing lower highs and significant higher lows since beg of Feb, would today be the day of a BTC trend confirmation ?
Volumes are lower than yesterday, MACD is flat, Bollinger narrows. check out the same situation on 27 Jan, followed by a bull trap into the downward breakthrough.
Bulls should still be considering a rebound to 11.5k.
Bears a drop to 4.5k to 4k now.
I have reconsidered my bearish views to neutral as I edged my position.
* I've added the rainbow Fibs retracement (From 09/2017 3k to ATH) if any takeaways, I see drop #1 => 50% drop #2=> 62%, drop #3 78.6%.