BTC has a choppy market, it makes me a little bit skeptic when i am looking at candle stick patterns. but on the other hand it can be used in higher time frames, i think at least!
so in the weekly time frame it seems we have a bearish engulfing candle it does not fully engulf the previous bullish candle but it covers it pretty good. with that in mind; considering upward wicks and also unstopped recent months of bullishness we can say that it is a bearish engulfing candle.
also we have broken the daily upward support on RSI and it really worked well on my previous analysis. on the other hand we have a bearish divergence on the daily time frame on rsi and also on 4 hourly rsi.
if you are in a spot market i think that is wise to sell btc to usd and if you are on leverage account i think you should wait to things look very bearish and then short on a nice price based on situation.
so in the weekly time frame it seems we have a bearish engulfing candle it does not fully engulf the previous bullish candle but it covers it pretty good. with that in mind; considering upward wicks and also unstopped recent months of bullishness we can say that it is a bearish engulfing candle.
also we have broken the daily upward support on RSI and it really worked well on my previous analysis. on the other hand we have a bearish divergence on the daily time frame on rsi and also on 4 hourly rsi.
if you are in a spot market i think that is wise to sell btc to usd and if you are on leverage account i think you should wait to things look very bearish and then short on a nice price based on situation.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.