Dear all,
I try to remember the hardest Lesson everyday "On green days you look for a sell and on red for a buy".
We had a good series of green...
Here we had a really interesting rally. Compared to other analysis, I don't think we've breached resistance but that we actually touched them.
In case of bullish div at resistance I would go long above. However here we have resistance + bearish divergence = short.
I based targets on previous BTC price action. Last big jump where a bearish divergence finally occured had a 61.8% retracement which in that case here would bring us around $6,700 at max.
That's the highest target of course.
All the Best from the Crypto Space
Alteroc
Not a Financial advise, be a better trader tomorrow than you are today by DYOR
If you liked the idea press the like button :)
I try to remember the hardest Lesson everyday "On green days you look for a sell and on red for a buy".
We had a good series of green...
Here we had a really interesting rally. Compared to other analysis, I don't think we've breached resistance but that we actually touched them.
In case of bullish div at resistance I would go long above. However here we have resistance + bearish divergence = short.
I based targets on previous BTC price action. Last big jump where a bearish divergence finally occured had a 61.8% retracement which in that case here would bring us around $6,700 at max.
That's the highest target of course.
All the Best from the Crypto Space
Alteroc
Not a Financial advise, be a better trader tomorrow than you are today by DYOR
If you liked the idea press the like button :)
Trade active:
Confirmed by MACD
Comment:
Another view for people who want wicks included on the fib level:
Comment:
The RSI does not update on clicking play but this last move created another bearish div on RSI. This smaller one could be the trigger.
Comment:
Here is a view published from this daily closing:
Trade closed: stop reached:
Indeed stop reached trade close even tho the bearish div is still here
