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Bitcoin technical analysis - Possible downtrend coming? by dobe4ever

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bitcoin · @dobe4ever · (edited)
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Bitcoin technical analysis - Possible downtrend coming?
Hi guys, quick update on BTC here. This the one hour candles BTC USDT from bittrex and we can see that two candles have already closed below moving averages. This is a strong sign that we could be already in a down trend. Also a head & shoulders have formed which also signals a possible trend reversal. Also the daily candles chart shows BTC being overbought at the moment. There is no need to panic, we could also be just consolidating from here and not go down, but BTC is looking a bit weak at the moment at least for the short term. Watch out if you hold large amounts of BTC... 

![btc.PNG](https://steemitimages.com/DQmUoXhBzgTEeESXKMBp62CFMwzHnL39b7St7q1C6N3pVgZ/btc.PNG)

Happy blogging xx
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