Bitcoin - Intraday - We look to Sell at 39288 (stop at 40220)
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Bearish divergence is expected to cap gains.
With signals for sentiment at overbought extremes, the rally could not be extended.
Short term MACD is moving lower.
Preferred trade is to sell into rallies.
Our profit targets will be 36515 and 36015
Resistance: 38500 / 39500 / 40000
Support: 37500 / 36500 / 35500
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Bearish divergence is expected to cap gains.
With signals for sentiment at overbought extremes, the rally could not be extended.
Short term MACD is moving lower.
Preferred trade is to sell into rallies.
Our profit targets will be 36515 and 36015
Resistance: 38500 / 39500 / 40000
Support: 37500 / 36500 / 35500
Trade closed: stop reached
