BTC hit the resistance level at the 25000 price point from where, it started to reverse and move in the bearish direction. We are looking at the bearish impulse move towards the support level or beyond the support to further decline. The overall trend on H4 is still in a range, or the latest is still bullish. That being said, we are taking the short position in order to continue shorting.

The ascending trendline has broken out for sells. It needs validation after which we can confirm the bearish dive.

There is no retracement indication in this particular setup.

The EMA 50 is still bullish. We can assess the EMA 50 retest as the potential profit target.

RSI is at 45. This needs to be neutralied at the 50 level or head up to the over bought region for the market to form the bearish divergence.

Still awaiting the shorts

Mar 04 2023