If you take a look at some of my recent ideas, you'll see I made note of 8.9-9k being an area of resistance. As we have found this level once again, the consolidation that has followed is showing signs of a bounce of at least $150-$200. The lower timefram charts (as well as up to the hourly chart) are should bullish divergences on the RSI and On Balance Volume Oscillator. These are the only two oscillator indicators that I have found success with.
I have taken a scalp long here and am looking to take profits at 9147 and 9185 (on bitmex).
I am expecting a lower high before finally breaking down the 8.9-9k range towards our first target of 8.4k.
Any questions, please leave a comment below and let's make some $$!
I have taken a scalp long here and am looking to take profits at 9147 and 9185 (on bitmex).
I am expecting a lower high before finally breaking down the 8.9-9k range towards our first target of 8.4k.
Any questions, please leave a comment below and let's make some $$!
Comment:
Another note: I do expect us to see around $9250 but with our now bearish price action, I believe we're going to get small pullbacks between 9150-9180 so the plan is to take some or all profit there (I get paid a fee rather than pay a fee with the broker I use for limit orders so that's a huge plus as well) and rebuy a bit lower to ride it up to the $9250-$9280 range.
Comment:
Took some profit at the spike of this peak. Hoping for a pullback to 8980