Very simple stuff here. The run from 7.5k all the way to 10.5k was certainly fun but it didn´t came without a cost. Looking at the RSI, we have a confirmed hidden bearish divergence on the 1D and today, assuming we close below 9300 or so, we are going to confirm it on a 2D time frame as well. Potential target range is between 8.4k to 8.8k, with special attention worth paying to the 0.618 retracement. The bulls absolutely must defend that level in order to keep the dream of a bull run alive.
You´re welcome to follow me on Twitter as well, where I regularly post charts, updates and the occasional shitposts.
twitter.com/mansasuma
Take care.
You´re welcome to follow me on Twitter as well, where I regularly post charts, updates and the occasional shitposts.
twitter.com/mansasuma
Take care.
Comment:
Price still holding above 9k. Still can´t rule out a quick dip lower as there is tons of liquidity for grabs but general sideways action here does bode better for the bulls.
Comment:
Bitmex funding is 0.0374% in the next period, as long as funding is above 0.015% we are in flash crash territory, be VERY careful if you plan on longing this.
Trade closed manually:
We got the down move I have been looking for and while we may go lower I dont feel comfortable shorting anymore as we are right above a strong weekly bullish orderblock, 51% profit booked.
