People keep putting ridiculous charts out and using a 1hr chart. If you want to use a 1hr chart you have to project short term moves. For instance take a look at this 1hr I have//
Price action pushed down to tap the 21hr moving average (a very good short term indicator) and we saw a bounce off of that. that tells me it is still bullish short term and that bulls are looking for another move to the upside.
The rsi is corrected as well on the hourly and has room to move, and the macd has just made a bearish crossover and is setting up with hidden bullish divergence.
I dont know if this is a trend reversal or if we are going to roll over to negative side and continue downtrend any time soon but in a close time frame BTC is making money!
Stay OBJECTIVE stop playing bears and bulls just trade the trend.
IF the price action on the 1hr bears below the 21hr MA then we can say we are about to roll over, but for now we seem to be having support there.
Price action pushed down to tap the 21hr moving average (a very good short term indicator) and we saw a bounce off of that. that tells me it is still bullish short term and that bulls are looking for another move to the upside.
The rsi is corrected as well on the hourly and has room to move, and the macd has just made a bearish crossover and is setting up with hidden bullish divergence.
I dont know if this is a trend reversal or if we are going to roll over to negative side and continue downtrend any time soon but in a close time frame BTC is making money!
Stay OBJECTIVE stop playing bears and bulls just trade the trend.
IF the price action on the 1hr bears below the 21hr MA then we can say we are about to roll over, but for now we seem to be having support there.
Trade closed manually