#Bitcoin = Daily Analysis – Bearish = 13.07.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading

Today $BTC closed with a standard bearish continuation candle. The odds are bearish and decline tomorrow is expected. Let’s explore the hypothesis.

Daily
Today’s red candle confirmed yesterday’s Bearish Engulfing. The bearish odds are quite high from the candles perspective.

The technical indicators ticked further to the bearish side. The weekly and monthly candle formations and indicators continue to put a bearish pressure on the daily and every smaller time frames.

At least two strong green candles closing above 20 EMA line should happen before I consider the first sign of a rally off the bottom.
Odds: Strong Bearish

Other Cryptocurrencies

ETH, LTC, and ADA produced strong bearish continuation formations today. Perhaps a tad stronger than BTC. The odds of bearish continuation are very high (>80%).

Forecast

Several signs warn about possible strong decline tomorrow.

I expected that BTC trades this week within a range between $36k and $32k with many abrupt see-saw moves. After today’s closure, I can see an option to break the lower boundary of the range. Tentative target – $31-31.5k.

So far, no bullish signs.

The long term perspectives and the chart can be found in the Monthly Analysis by the link below.

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Previous Weekly Analysis:

Previous Monthly Analysis:

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