Bitcoin ( BTCUSD ) I mentioned “bearish tendency”, because Bitcoin has been moving lower since it hit a peak on the 26-June, we can easily see lower highs being printed…
But since the 28-July, we are also seeing higher lows. This is all a period of consolidation but Bitcoin can still move lower before moving back up.
Now, the signals…
Bitcoin Bearish Signals
The RSI is clearly trending down.
The MACD had a bearish crossover.
BTCUSD price is trading below EMA10 and EMA50.
Bearish TD Sequential.
This is all pointing to another drop.
The drop can be quick big and recover fast just as it can be short-lived and small…
Whatever happens, we believe that Bitcoin will bounce regardless of how low it goes.