without_worries

BTC vs USD - Gravestone DOJI

Short
BITSTAMP:BTCUSD   Bitcoin
Last candle on the 4-day chart above just printed a Gravestone DOJI candle. She's going down captain.

First test will be $10.5k, however I don't expect it to hold. A test of the 21-week moving average is more likely, which is currently around the $8k mark. The 1-day chart below suggests we might see support on the RSI support trend line (orange line) by August 23rd, which would cause price action to retest $12k.. again. But I think we now know if we were going to break $12k with conviction we'd have down it already, and with volume.

Comment:
1-day chart without price action. Circled in orange is the 10-day crossing down the 21-day moving average.


Here is the same picture now with price action - see what followed?


BTC
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Allow 3-6 months on ideas. Not investment advice. DYOR
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