COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Morning guys,

In last three sessions BTC is coiling around the top, keeping bullish sentiment intact. Still, price is strongly overbought on daily chart and it needs some relief, either in a way of flat consolidation or in way of slightly deeper retacement.

On 4H chart we have minor bearish sign - Wash and rinse of previous top, which could lead to appearing of minor double top pattern here and slightly deeper retracement, some where to 7000-7200 area.

Thus, for long entry we need to keep an eye on two things - either deeper retracement with the pattern, or upside breakout of recent top. Entry technique also should be different. It is simple entry on downside retracement, but
to take the position on upside breakout it would be better to use stop entry order. The one thing that you need to control - daily overbought. Do not bet on upside breakout by using stop entry order, if BTC is still overbought on daily chart ...
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