Bitcoin still in a downtrend
I am seeing nothing to suggest that Bitcoin has changed into an uptrend.
Volume is still falling on upward moves.
Stoch RSI has been overstressed and is pulling price downward.
VWAP is below price.
POC is around 5800.
1W MACD still downward.
This move is thin and overextended.
I would expect to see a fall to a lower position and a triangle wave to indicate reversal. Either at the 1.618 or inside the channel.
Volume is still falling on upward moves.
Stoch RSI has been overstressed and is pulling price downward.
VWAP is below price.
POC is around 5800.
1W MACD still downward.
This move is thin and overextended.
I would expect to see a fall to a lower position and a triangle wave to indicate reversal. Either at the 1.618 or inside the channel.
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