BTC Bulls confirming a 4 hour bulls flag and hitting the $6,500s target where we were visually looking for a daily lower high to form.
It is still a possibility to confirm the drawn bullish reversal inverted head and shoulders, but it is not the likely scenario in my opinion.
The reason for this is because the 4 hour RSI is already 70, and we still need 5% to get to resistance.
We would need to see 4 hour RSI in the 80s for the bulls to see a breakout in the next few days.
Still looking for a daily equilibrium as the most likely scenario.
Liking the shorts continuing to climb as it will be more fuel for the bulls if we do get the break causing a bit of a short squeeze.
Bulls still have some hope! I personally will be utilizing all my cash in BTC and ETH if we do see this $6,800 break.
It is still a possibility to confirm the drawn bullish reversal inverted head and shoulders, but it is not the likely scenario in my opinion.
The reason for this is because the 4 hour RSI is already 70, and we still need 5% to get to resistance.
We would need to see 4 hour RSI in the 80s for the bulls to see a breakout in the next few days.
Still looking for a daily equilibrium as the most likely scenario.
Liking the shorts continuing to climb as it will be more fuel for the bulls if we do get the break causing a bit of a short squeeze.
Bulls still have some hope! I personally will be utilizing all my cash in BTC and ETH if we do see this $6,800 break.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.