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Wednesday, August 26, 2020

Possible Broken uptrend on BTC Using daily QRSI

Possible Broken uptrend on BTC Using daily QRSI

BTC/USD COINBASE:BTCUSD

I use qrsi to identify trends all the time. I draw them in a way that makes sense for me. We all have our ways.

You can see this qrsi uptrend was support during consolidation and pushed price several times. We now have a clean break of the uptrend with a close below AND a retest. I'm not feeling very bullish on crypto. I still think we could see a bounce on bitcoin but am not sure that would lead to new highs. This trend break feels like an early indicator of whats to come. May be best to wait patiently for possibly months.



from Trading Ideas https://ift.tt/31upyMD
via gqrds

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