CRYPTO Bear Pullback Confirmed By ETHsteemCreated with Sketch.

in bitcoin •  2 months ago

Untitled.png

I was eyeing the crypto markets closely lately, and the repetitive break from consolidation for ETh is what especially confirms it for the markets.

We saw overbought RSI's on the daily charts which had a huge bear pullback and long consolidation. The longer that consolidation lasted, the more it grew to be in the Bears' favor.

At this point, I'm really expecting a continuation of the pullback and seeing this overall bear market continue it's downward pressure. I'm really thinking BTC will hit or break below $3,000.

In the short term, 4-hr charts are definitely all oversold, so a bounce here is likely to continue for the short-time being.

Hope you all had a great weekend! Make sure your risk tolerances are set.

trading.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Thanks for posting the update

·

thanks so much!

Congratulations @exxodus! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made more than 15000 comments. Your next target is to reach 16000 comments.

Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard:

Carnival Challenge - Collect badge and win 5 STEEM
Vote for @Steemitboard as a witness and get one more award and increased upvotes!