BTCUSD already shows up some bearish divergences, momentum gets lower, macd shows weakness.
Symmetrie looks like the could be some more upward movement during the weekend session.
I will close all my long trades somewhere near 4.8k to wait for a minor sell signal on lower timeframes
Fib levels have been set as downward targets. Bearish symmetrie points towards 3k.
Entry: ~4.8 k
TP1: 3781
TP2: 3408
TARGET: ~3.0 k
Symmetrie looks like the could be some more upward movement during the weekend session.
I will close all my long trades somewhere near 4.8k to wait for a minor sell signal on lower timeframes
Fib levels have been set as downward targets. Bearish symmetrie points towards 3k.
Entry: ~4.8 k
TP1: 3781
TP2: 3408
TARGET: ~3.0 k
Trade active:
created positions manually.
waiting for tp1
waiting for tp1
Comment:
exciting situation.
BTC broke its crucial support line at 4.4k. That would act as a sell signal expecting further downward movement.
But the dip was so fast that its very difficult to tell if the price will bounce or fall lower to 3.7 or even lower.
BTC broke its crucial support line at 4.4k. That would act as a sell signal expecting further downward movement.
But the dip was so fast that its very difficult to tell if the price will bounce or fall lower to 3.7 or even lower.
Trade active:
Market Situation
JPMorgan CEO called Bitcoin a fraud, bigger than tulib bubble back in the 17th century. However, he does not intend to short it, as it can still grow bigger.
Russia announced crypto regularion at the end of this year.
Restricting rumors along China's exchanges are still present, there has been no official announcement yet.
Market reacted subsequently: BTC dropped 5% and most of the major coins did the same.
BTC and most of the majors still remain overbought on the 1D Chart, a further downward movement is still in the cards. Most likely reversal target is around USD 3500.
JPMorgan CEO called Bitcoin a fraud, bigger than tulib bubble back in the 17th century. However, he does not intend to short it, as it can still grow bigger.
Russia announced crypto regularion at the end of this year.
Restricting rumors along China's exchanges are still present, there has been no official announcement yet.
Market reacted subsequently: BTC dropped 5% and most of the major coins did the same.
BTC and most of the majors still remain overbought on the 1D Chart, a further downward movement is still in the cards. Most likely reversal target is around USD 3500.
Chinese government forces to shutdown exchanges.
there will be no oposing statement before monday. this can get ugly