Nevermorejk

BTC Before everyone gets too excited

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The major bearish trend is intact. RSI is the only indicator that has broken that trend. I am Long from the support, but keep in mind that the trend is intact and bearish . The secondary trend has been bullish for the past few days yes, but it remains to be seen if this is the start of a true reversal, or just a secondary trend within the major trend.

Look at the trends on the indicators. We are not out of the bear trend yet. The RSI did break out, with is a good sign, but the price peaks and RSI are showing hidden bearish divergence (pink lines). So price needs to close above the 7500 level to remain bullish . We are on a bearish reversal 9 on the TD             (unclosed though), turning down before resistance on the OBV and CMF             , and the RSI is coming back down to test its trend break. None of the long term indicators have turned bullish overall. I am holding onto my long position from the 7k area and plan to add to it if price action can hold above 7400-7500. This is the area where many will be shorting, and from the looks of it that may be the safer bet. If I was shorting, Do it on the bearish close of this daily, the failure at the 4hr Tenkan. Not really expecting BTC             to break 7400 yet.
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