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BTC/USDT Seems Bearish HERE is WHY!

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Bitcoin / TetherUS (BINANCE:BTCUSDT)  
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BINANCE:BTCUSDT   Bitcoin / TetherUS
Trend Analysis Chart Patterns Technical Indicators BTC BTCUSD btcusdshort btc_usd btcusdforecast btcusdanalysis short shortsetup
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trendanalysis chartpattern indicator btc btcusd btcusdshort btc_usd btcusdforecast btcusdanalysis short shortsetup
Hello Traders

BTC/USDT seems to be bearish.
Reasons:
1- Broken upward trendline.
2- RSI is declining(bearish divergence in Daily TF)
3- Chart is forming a Bearish Curve(scallop).
4- Upward trend has no more strength or in simple term BTC is weakened(Price went up but BTC Dominance is falling).
5- Strong resistance in 50.5-52k zone.

In case, this analyze will be invalidated if price goes up and close above 51500 in Daily TF.



Thanks for Reading.

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