Not much going on in the cryptocurrency market

Not much has occurred since our previous update on Bitcoin. Therefore, we stick to our last assessment and remain bearish with price targets at $15 000 and $13 000. However, we want to reiterate that the short-term trend reversal has not been confirmed yet.

Illustration 1.01

The image above shows the daily chart of MACD. We want to see it fully break below zero, bolstering bearish odds in the short term.

Technical analysis
Daily time frame = Bearish
Weekly time frame = Neutral

Please feel free to express your ideas and thoughts in the comment section.

DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.

Trade ist aktiv:

BTCUSD broke below $21 500. If it breaks below Support 1, it will bolster the bearish case in the short term.