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BITCOIN

Bitcoin is lookin for a slump down and a major massive bounce upward would be indicated in the next two weeks if the $7100 range holds. Bears are now in control. Bitcoin has gone straight up for over four months and this is the first rejection and end to a Bullish trend. Bitcoin lost the top and has gone below the top bollinger band. BTC closed below the 50 EMA on two consecutive candles on the 12 hour.

BITCOIN Daily range: $7600 - $7900

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Bear range $7200

Bull range $8050 looks solid

• Short time frame range: $7950 - $8250

• Bulls need to break above $8250 to reaffirm control

• CME stoch has confirmed short time frame to the downside
• Risk of trading capital lacks appropriate gains unless scalping

SPY OVERALL DIRECTION

S&P is a good reference point. If you are trading traditional markets keep an eye on SPY. Both Friday and Monday indicators flagged to the downside and the daily shows rejection.

• Rejection on the 21 daily EMA, 280 is the target
• More downside targets the 269-270 range

For educational purposes only. This is not financial advice. DYOR
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