BTC Firmly on Downtrend

Hello Steemians! BTC is still firmly in a downtrend. Let us have a look at the BTC 4-hourly...the daily hasn't changed much since we last we looked:

I have been talking about the series of upward trending channels and their breakdown to the downside. Above is a 4 hour chart with HA candles. I have talked about the latest channel performing poorly yesterday. The price is not moving to the the upper end of the channel. Well this morning the price broken the bottom end of the channel. So basically the pattern continue to evolve to the downside.

Steem:

We haven't looked at the Steem chart for the last couple of day, as there were nothing interesting happening there. Prices are well below 2.0 level (which is now the resistance) and not quite to the 1.3 levels, which is the support to the downside. Above is the HA display show continuous red candles. That is strong downward momentum, until that changed to green there is little hope of a rebound.

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

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