We would use the BTC/USDT pair. Lately, it would be observed that the market has taken a bearish stance and it seems to have toned down the sentiments of most investors. This has coerced them to take a bear decision, despite their optimism that a day would come for a long-standing bull market to buy stocks and invest over time. This has been the major trend in the first quarter of this year. Now, let's take a look at the trend of the BTC/USDT market for the first quarter of this year, with a daily timeframe. In the image below, a mostake can be made using the hills and valleys as points to draw your trendlines and hence might give you a bull flag, expecting a reversal, which is in opposite indcation of the technical indicators.
.png)
Source
From the beginning of the year to now, the market has shown a ranging market with a resistance break on the 29th March but then the price was resisted and returned to a bearish trend.
.png)
Source
The resistance and support lines being drawn shown the possible boundaries to consider when determining the kind of trend to possibly emerge in the near future. The RSI, Stochastic and the MACD indicators show a bearish trend for this month, likely to continue the bearish trend. The RSI and MACD indicators showing a bit more agreement confirms this possibility.
Per this indications, i speculate that in the few days that come has a high possibility of a trend continuation long-term and hence would expect investors to be taking most often a bearish move on the market. There will obviously be spikes in the price as people might bid very price in order to reverse the market but that will be momentarily.
This, I say strongly, is just a speculation and hence trading will be at your own risk.
Thank you very much.