$BTC formed a solid bearish candle that signals another move downwards. It trends below the daily 8 EMA line without a sign of reversal yet. Targets unchanged – 30000-24000.
There is a soup of corrective waves and there is a high chance that BTC is forming a bottom. I am also seeing a possibility for a deeper decline, however, would need to see the tomorrow’s weekly candle before sharing this possibility.
The most important thing is that the 8 EMA resistance is not broken yet and both weekly and monthly candles are bearish so far.
Let’s see how this week closes on Saturday. The month end print on May 31 will also be very critical.
Follow the blog @InvestingAngles or subscribe by email.