Reasons that i believe Bitcoin Short Term Drop:
1- RSI on D1 Timezone is showing 80.000 means that there is a huge overbouth happened on Bitcoin and every time that RSI touched 80, there is at least 30% drop happens after that.
2- ABCD Pattern now 70% completed.
3- After this huge jump, bitcoin needs a retracement so it can confirm support level as an strong level and then jump again...
By the way, it's not a good idea to sell your asset when we have bulls available trend, but this is for this IDEA is for RISK TAKERS, if you dont wanna risk you can wait to drop and then buy Bitcoin as a long term investment...
1- RSI on D1 Timezone is showing 80.000 means that there is a huge overbouth happened on Bitcoin and every time that RSI touched 80, there is at least 30% drop happens after that.
2- ABCD Pattern now 70% completed.
3- After this huge jump, bitcoin needs a retracement so it can confirm support level as an strong level and then jump again...
By the way, it's not a good idea to sell your asset when we have bulls available trend, but this is for this IDEA is for RISK TAKERS, if you dont wanna risk you can wait to drop and then buy Bitcoin as a long term investment...
Trade active:
Going down, and we are in profit now...
Comment:
ABCD Pattern not valid anymore. But divergance and RSI still confirms almost 30% of drop
Order cancelled:
Closed on BE
