Looking at the indicators we are losing momentum, finally BTC is making a small retracement as I said from previous ideas. We will see if the RMI reverse and go back up over 50 level, because in the 4h chart everything still very healthy.
we will confirm in the next few hours if BTC is truly forming higher lows and 8800-8600 is a strong support area.
If we bounce off of 9200 again I recommend going short, if not the next resistance is 9350 and ultimately 9900. Again just some short term observation.
Any bounce off the same resistance is very detrimental, but we do not lose hope when we are still making higher lows.
Just my 2 cents.
Best,
Kidze
we will confirm in the next few hours if BTC is truly forming higher lows and 8800-8600 is a strong support area.
If we bounce off of 9200 again I recommend going short, if not the next resistance is 9350 and ultimately 9900. Again just some short term observation.
Any bounce off the same resistance is very detrimental, but we do not lose hope when we are still making higher lows.
Just my 2 cents.
Best,
Kidze