It's All in the chart.
Please see the blue box.
What the chart shows:
When the cloud is below BTC , we are in a scenario.
When the cloud is above BTC , we in a scenario.
Currently the cloud is above and is showing market.
The is going down to 140.
While the dominance remain the same.
However, the now are much lower than before.
This shows the market is petering out .
The market is hedging against BTC , because we are moving sideway and no definitive direction.
Hope this chart was helpful to you all. If you all have questions feel free to ask or comment in the comment section below.
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Happy trading People...
This is a update to the chart: The last five days BTC has made higher highs.
BTC is currently in an Uptrend.
Trading Technical tell us: No Emotions or Worrying about being right.
Focus on the trend, look out for the Downtrend.
Remember Sell rallies.
BTC attempted 7600 and was rejected.
RSI is close to being over sold on D, however, K is already oversold.
This is a strong sell signal.
We are risk managers and we should always do our best to protect our capital.
BTC needs consolidation period to make higher lowes before we can attempt 7600. Hopefully BTC can break the resistance to make higher lowes when retrace.
Keep in Mind when trading: Don't be greedy or use Trailing Stop Loss.
3-5 Bar Declines: it's an indicator to - Buy
3-5 Bar Increase: it's an indicator to - Sell
Always have the following checklist before entering a trade.
1. The Trade setup 2. The Entry 3. Initial Stop Loss
4. Exit and Trailing Stop 5. Your capital size you are willing to risk on the Position
Hopefully BTC Successfully Breaks @ 6800