Hey guys,
So Here is the Situation, Lets break it down!
Multiple Indicators pointing to downwards!!!! Heading to 8k
Although We did just go threw a breakout on bitcoin but the retrace was heavy!
Rsi, and CCI are both pushing down from yesterday.
Last time we had RSI and CCI this high we dropped $3,000 in value.
All of the Elliot indicators are pointing to downtrend.
Notice the Red A,b,c,d,e Down Scaling on 2 seperate Pieces.
Historical analysis in a 3 wave downtrend are all showing downtrend as well.
EMA crossover about to cross down.
Thanks,
TheCryptoGenie
PS: I have never posted negative chart about bitcoin but today I find it Inevitable!!