AndyTheKing

BTC/USD - Return to value?

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin looking extremely heavy at these levels. With world news around COVID-19, the resolution of US elections and a bottoming US dollar index ( DXY ) in play - are the BTC bulls still confident to step in here and buy? Technically, I'm doubtful.

Technical reasons for the trade:

→ Divergences in OBV, RSI and volume
50% Retracement lines up with VPVR support (top of value) and the 0.786 fib
→ M top in price
→ VPVR void below presents some juicy liquidity for hungry bears

Good luck!

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Comment: Couldn't have been more wrong! :D

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