We are still bearish on BTC and we will be until we break the series of lower highs on the daily TF or until we reach the first target for the potential low of this bear market 5300-5177. (the second target is between 3000 and 3300). Now we are correcting the fall from 7429 to 6119 and we couldn't even make it to the 0.382. Usually when BTC is trending it has very shallow corrections (between 0.236 and 0.382) and it wouldn't surprise us if it would start falling from here but shorting from here you don't have a good RR ratio because it could go as high as 7000 before starting to fall again and if the 12h candle closes with this huge wick to the downside it will increase the chances of going higher before starting to fall again. So, where do we place our sell orders? We have 2 zones and they are both highlighted on the chart. If the price doesn't reach our zones we will short at the break of the support line.
Comment
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Hidden bearish divergence on RSI and Stoch RSI is very overbought on the 12h TF.
Hidden bearish divergence on RSI and Stoch RSI is very overbought on the 12h TF
Really?
Care to explain in plain English what does it that mean?
Why do you guys always have to trow some trading language at us?
Are you posting for other Pros or for regular people?
Confusing me is not going to get you a "Like " I am afraid.
JohnNMex
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@destin2008, you joined this community 2 months ago and you still do not know basic stuff. You should study more before asking analysts to post in an easier to understand language. If you do not have the time to do this or you find it to hard to understand you can join us and let us trade for you through API. If you want to find out more about our services send me a PM or contact us on telegram.
MCuong2332
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@NewMexCapital, you are right. Don't need to care about them
@meveme, You misunderstood trading view's role. This is not a platform dedicated to learning TA, it is dedicated to applying what you have learned so if you do not know the basics of TA (overbought, oversold, divergences, support, resistance etc) this is not the right place for you because nobody will explain/teach them to you.
meveme
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@NewMexCapital, ok man
I knew u r going to write a message like so
I will not be paying to join ur VIP
And so on so forth
I am not even going to follow or give u a like
The tone of ur language is degrading
If I want to learn what I don’t know I will elsewhere
By accident I landed on ur analysis as it was just one of very a few to be short
So good bye and do not reply or send me message
Thank u
JohnNMex
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@meveme, We are sorry if you think we are just another group that asks for money to give advice, we assure you we are not. What we are trying to do is to actually help people that will most certainly lose money trying to trade, by trading on their behalf via API. If you want to change your mind, and even confront us for our comments here you are free to join our Telegram channel (which is free BTW)