Dear all, this is my bearish idea for BTC             . Despite the fact that bulls were able to demonstrate some strength by pushing the price towards 6.8K from 5.7K levels – I believe this was a relatively weak bounce and the trend will generally remain bearish until a positive catalyst comes up.

According to monthly MACD , 8, 13, 21, 55 EMAs on the weekly chart, bearish divergence and shooting star pattern that can be clearly observed on the daily chart – BTC             should start retracing shortly.

I expect the BTC             to retrace to 4.7K levels and the bull run to commence this fall, probably October- November 2018.