BTC USD 4hr Renko 500 brick
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
There are some signs that the trend is starting to reverse. Looking at the Moku cloud, the bottom of the cloud is starting to curl up. However, the top is starting to curl down, so that balances things out a bit.
On the price line itself, the red bricks are still forming downwards, meaning the trend is still clearly negative. We are also below the 10SMA, which signals the trend is here to stay for now.
Until the price reverses back above the 10SMA and green bricks start forming above the green area of the Moku cloud, I remain in my shorts.
