Another Bearish Week for Bitcoin... (BTC)
Hi Trading Team! I'm glad to share todays update analysis on Bitcoin with you. We're going to focus on the H4 time frame because it really allows us to see how much consolidation occured prior to this most recent bearish shift happening. Now that we have started the momentum shift and effectively broken out of the bear flag, it seems more likely now to expect price to move towards the 2018 yearly low and aim to create a new lower-low which would continue the bearish-macro trend we've been experiencing after the All-Time-High was created.
We can observe this bearish trend by utilizing a daily chart and recognizing the Lower Highs and Lower Lows that have been setting in.
We can also clearly see the bear flag on H4/H1 time frames - and we must realize we are in the midst of a lunar cycle which will be at it's Full Moon on January 21, 2019.
Volume looks as if it is picking up and I am looking for a continued move down below the 3500 half quarter level. We may expect price to find support and briefly bounce if/when we arrive there... however this would be shortlived because the technicals as of right now are pointing for lower prices.
We will be keeping an eye on this and diving deeper as the upcoming week begins because I am expecting that we will see the selling continue!
Let's Empower Others, Enrich Our Lives and Educate on the Art of Trading... Until The Next One Stay Safe Out There.
These markets are volatile!
***This information is not a recommendation to buy or sell. It is to for educational purposes only.***
We can observe this bearish trend by utilizing a daily chart and recognizing the Lower Highs and Lower Lows that have been setting in.
We can also clearly see the bear flag on H4/H1 time frames - and we must realize we are in the midst of a lunar cycle which will be at it's Full Moon on January 21, 2019.
Volume looks as if it is picking up and I am looking for a continued move down below the 3500 half quarter level. We may expect price to find support and briefly bounce if/when we arrive there... however this would be shortlived because the technicals as of right now are pointing for lower prices.
We will be keeping an eye on this and diving deeper as the upcoming week begins because I am expecting that we will see the selling continue!
Let's Empower Others, Enrich Our Lives and Educate on the Art of Trading... Until The Next One Stay Safe Out There.
These markets are volatile!
***This information is not a recommendation to buy or sell. It is to for educational purposes only.***
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