jpbrown1023

BTC - Showing Weakness and Possible Dump Impending

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC's H2 chart is showing resistance on the MACD. The price is also demonstrating weakness as we approach the MA50 and the end of the pennant. Looking within this bear flag pennant, we have failed to get above the previous support level and have been stuck in the bottom half of the pennant. The odds of probability suggest a continuation to the downside so be careful of another dump. This is our 3rd day below the daily 200MA which is not a good sign. If we do dump, look to catch support at the bottom of the channel or around the .618 Fib retracement mark between ~$7,200-7,300.
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