I would not consider shorting bitcoin unless we will have a TK cross on the 6H timeframe.
We have a bear cross between the price line and the lagging line that is heading towards the T line but it is a very weak bear sign.
Yes up to the 4H timeframe we turned bearish but on the 6H we are sitting quite strongly on the Kijun.
If we enter the Kumo and only if we will have a bear TK cross we can expect a first target of 6182.5 and if broken a second retrace to 5759.4 a third retrace to 5324.9 is quite possible.
I will detail below the reasons in the comments below.
We have a bear cross between the price line and the lagging line that is heading towards the T line but it is a very weak bear sign.
Yes up to the 4H timeframe we turned bearish but on the 6H we are sitting quite strongly on the Kijun.
If we enter the Kumo and only if we will have a bear TK cross we can expect a first target of 6182.5 and if broken a second retrace to 5759.4 a third retrace to 5324.9 is quite possible.
I will detail below the reasons in the comments below.
Comment:
On the 4H we are heading towards bearish but also in this timeframe we have weak signals.
Comment:
Last time we had a TK cross on the 6H we retraced over 30% to below 3000.
This is when I would consider a short, not before then.
This is when I would consider a short, not before then.
Comment:
Also to consider is the TK cross negation that led us to the last really and an increase of 38% in price.
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