BTCUSD is setting up for sharp decline is my humble opinion.
Kagi chart has double topping formation, and we are currently slightly above $63.980 support line.
The Kagi will change color, which is the first condition for change of direction. The 9-period MA is approaching, and a break below will confirm downtrend.
Remain short, and sell at current with stop-loss $ 65.800. Profit objective near $ 50k and if broken we will move towards $36k.
Kagi chart has double topping formation, and we are currently slightly above $63.980 support line.
The Kagi will change color, which is the first condition for change of direction. The 9-period MA is approaching, and a break below will confirm downtrend.
Remain short, and sell at current with stop-loss $ 65.800. Profit objective near $ 50k and if broken we will move towards $36k.