Chart looks weak
Hello Steemians. BTC chart looks weak again. Let us have a detailed look at multiple time scales.
Although stochastic looks good and prices are holding support, the loss of momentum and lack of up-volume is concerning. We are getting long upper wicks on the daily candles. That is a clear sign of lot of overhead selling pressure. The longer we stay at this lower end of the range higher is the chance of a downside breakout below 6000.
This is better evident on the 4-hr chart. We are well below the 50 EMA line, and failing to build upward momentum. The major bias of the popular trade continue to remain to the downside.
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.
Charts are created in Tradingview.com, which is a free service.
They're not weak... they're just dizzy because, eh... all the bumpy ride...
what bumpy? Steady slide it is :)
yes friend it is going down and down..
this is really not good..
down to the oblivion :)
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Yeah... a slow death march
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