In the previous post the last thing written was "Unless..."
Support lines coming from swing tops and/or bottoms from the left was sufficient for a short lull but wasn't strong enough to support the market.
It just wasn't meant to be.. selling pressure dominated. The last daily swing top was four days ago as well.
The ninth was a sideways move never breaking the previous day's high or low. The tenth printed a lower bottom. Daily trend line moved down. The twelfth was Monday. Anyone that has been in the crypto space for any substantial time should know that Mondays are red letter days. There is blood in the streets more times than not. Yesterday was no exception!
Bitcoin is trading sideways since yesterday. The 4 hour chart is shown for your benefit. I do not day trade. Great practice charts for technical analysis and paper trading.
"Unless..." Didn't materialize.
In the third week from a swing top, one day short of a natural date, BTC failed to hit the 50d MA. NATURALLY Thursday maybe a better day.
The above is solely the opinion and/or observation of the author and is not, nor intended to be, trading or investment advice. Do your own research. The use of the word "You" is the writing style of the author and is not intended to persuade or lead the reader to buy or sell Bitcoin, stocks, or any financial assets.
Have a great week! 👍
