BITCOIN: Candles Speak 25.01.2021

There was a phenomenal closure today for the bears.
Daily:
The daily candle formed a very convincing Gravestone doji. The candle formed after backtesting the 8/20 EMA cross and closed below 20 EMA, shifting the odds to the dark side. If the candle plays in a classic way, I would expect a move down of the size of doji in the next couple of days, approximately to 30000.
4HR:
The 4hr candle closed the day below the 200 MA for the third time in the last few days. There is a high probability that the downtrend continues on this time frame.
1HR:
The 60-minute chart is entirely bearish from both candles and technical perspectives.

I continue to view that the wave down could develop a diagonal, that I mentioned in my last weekly update, for the first wave of a much longer correction. This week will be crucial indeed.

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