As our case study of bearishness continue we are always looking for indication of a return to bullishness.
The goal is to remove bias from the analysis and to be focus on what story we are reading in form of candles combined with western technicals.
So with that said let's see what the market is telling us today
We have not seen a bearish. Cross over for the adx since 20 March 2020
We are currently in the same position in btc
This shows that a few conditions has been met for further down swing
The following conditions has been met.
1. The weekly was over extended. The monthly is still over extended.
2. The candle stick shows bearish down swing
Bearish ingulfing pattern
Tower top
3. Adx bearish crossing on daily leading up to weekly.
THE next signal will be a bearish crossing on the adx
A break below the cloud will also be a confirmation of more bearishness on the weekly time frame.
If you are currently holding on to your capital for a return to higher levels I would advise to cut your losses and wait for this down trend to end.
My estimation is we will see a week to two week downswing in btc usd before the next move up.
KEEP SAVE GUYS TRADE SAVE AND ALWAYS FOLLOW THE MARKET
The goal is to remove bias from the analysis and to be focus on what story we are reading in form of candles combined with western technicals.
So with that said let's see what the market is telling us today
We have not seen a bearish. Cross over for the adx since 20 March 2020
We are currently in the same position in btc
This shows that a few conditions has been met for further down swing
The following conditions has been met.
1. The weekly was over extended. The monthly is still over extended.
2. The candle stick shows bearish down swing
Bearish ingulfing pattern
Tower top
3. Adx bearish crossing on daily leading up to weekly.
THE next signal will be a bearish crossing on the adx
A break below the cloud will also be a confirmation of more bearishness on the weekly time frame.
If you are currently holding on to your capital for a return to higher levels I would advise to cut your losses and wait for this down trend to end.
My estimation is we will see a week to two week downswing in btc usd before the next move up.
KEEP SAVE GUYS TRADE SAVE AND ALWAYS FOLLOW THE MARKET
