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DappStatCentral_ML
May 6, 2020 10:04 PM

BTC is totally overbought, small pullback incoming and up again! Short

Bitcoin / U.S. dollarBitstamp

Description

Hi guys,

I am busy with. just a short trading idea with technical indicators this time, short idea literally!

BTC is totally due for a small pullback, it went up so much again.
RSI and other indicators say now: Overbought, many indicators traders will go short now probably, use a safe stop loss and early take profit, the uptrend is going on still, just a small pullback is expected now, enjoy the drop but close your short early when in profit!

Joke for you: Google "trump fake tweet" and enjoy.

Comment

Important update: The red arrow I drew just shows price will go down, I does say it will go down to a specific level, I just expect a unknown small pullback.

Comment

Let me know your thoughts as a comment below: How will the BTC price continue to move? Up or down and why?

Trade closed manually

Update: Here goes your drop, now take profits and call the trade over, don't get greedy as the uptrend might continue again and it will go up again soon.
Comments
Darkside999
You say small pullback and your arrow is pointing towards $5000? That's a crash lol
DappStatCentral_ML
@wildbeast, Sry If i drew it coo confusing, the arrow should just say it goes down, and not point at a specific time. Will do it better next time.
jexmee2193
Yep. Small pull back is dangerous. Can’t time that. It’s actually super bullish in my opinion.
metza24
Btc does not seem to care much about technicals these days:)
DappStatCentral_ML
@metza24, Check the history, when RSI was so high a drop followed usually
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