BITCOIN: Candles Speak 25.01.2021

There was a phenomenal closure today for the bears.
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.
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.
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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