Hello Traders,
New thesis on BTC.
Points to consider:
- Bounce from support level into resistance
- Resistance being in confluence with the Fib line (Major confluence and key level)
- Bitcoin needs to break through to put in a macro higher high
- However, low volume, potential bearish divergence
- EMA's acting as support - however not looking strong
- Stock and RSI showing signs of topping out
What are your thoughts?
BTC may not be able to sustain this upwards trend due to strong resistance, the probability of a reversal is strong here, but remember nothing is certain in trading so always use stop - losses!
and remember,
Trading is very competitive and you have to be able to handle getting your butt kicked - Paul Tudor
New thesis on BTC.
Points to consider:
- Bounce from support level into resistance
- Resistance being in confluence with the Fib line (Major confluence and key level)
- Bitcoin needs to break through to put in a macro higher high
- However, low volume, potential bearish divergence
- EMA's acting as support - however not looking strong
- Stock and RSI showing signs of topping out
What are your thoughts?
BTC may not be able to sustain this upwards trend due to strong resistance, the probability of a reversal is strong here, but remember nothing is certain in trading so always use stop - losses!
and remember,
Trading is very competitive and you have to be able to handle getting your butt kicked - Paul Tudor