Double Down? Let's Have Another Look!

12 Okt 2021

I am still not convinced...

Let me start by saying that I am the biggest bull, perma-bull, moonboy, lambo whatever or whatnot.

I am a strong Bitcoin supporter, fan, holder, promoter and everything 'YES Bitcoin!'

This last jump looks like a bear trap and Bitcoin might be ready to drop... Let's have a look at the signals:

1) Ethereum has been leading Bitcoin for quite a while but this time remained behind. When red instead of green.

2) See the MACD on this timeframe. Very strong bearish divergence, a strong bearish cross while trending lower:

3) Same with the RSI; bearish divergence. When we get this signal on both indicators it is stronger:

4) The current active candle is trading below EMA10 and EMA21.

This is a short-term analysis...

I am all for the upside.
I am a big Bitcoin holder but it looks like anytime now we can see a drop.

Let me know your views in the comments section, I know you have something to have about this call.

Namaste.