Why?
1. 4H shows RSI bearish divergence.
2. According to that gann square, it's between 4th and 5th arcs and it's shown a lot of resistance.
3. There's a head and shoulders on the making.
4. Volume is getting lower which may indicate that the bull run is coming to an end.
5. There's a lower high which retested 6k.
6. Daily MACD crossed down and RSI is overvalued.
1. 4H shows RSI bearish divergence.
2. According to that gann square, it's between 4th and 5th arcs and it's shown a lot of resistance.
3. There's a head and shoulders on the making.
4. Volume is getting lower which may indicate that the bull run is coming to an end.
5. There's a lower high which retested 6k.
6. Daily MACD crossed down and RSI is overvalued.
Comment:
7. There's a dead cross in the 1h using MA 200 and MA 50. BTC didn't recover for a while after that happened in july, 25 and sept, 08.
Comment:
My bad, I was using MA not EMA. :P
Trade closed manually
Comment:
Arc 5 is like a magnet.
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