BTC - short term recovery, but ...
In the short term we have completed a bullish continuation flag after recovering from the 50 ema. This bullish momentum seems to be losing steam and further progress will require a show of strength in the coming week. A few concerns -
- Bearish volume profile as volume declines
- Bearish divergences across RSI, MACD and other indicators
Bulls want to see volume increase and price break the all time high. Bears want to see continued decline in volume and a failure to recapture the previous all time high leading to an ascending wedge / head and shoulders reversal completion.
- Bearish volume profile as volume declines
- Bearish divergences across RSI, MACD and other indicators
Bulls want to see volume increase and price break the all time high. Bears want to see continued decline in volume and a failure to recapture the previous all time high leading to an ascending wedge / head and shoulders reversal completion.
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