Dear day traders,
RMI still above 50, as I have commented on previous idea, the price will only go down when the RMI shows a massive negative slope.
Money Flow still confirms solid buying power. Still, the 15min chart already signaled some weakness. I would still hold on to BTC position and have a stop loss at 8090, but I don't advise against going short now.
I am closely watching 8400 resistance and 8100 support level. If we see a bull break the next test levels would be the previous 8600 and then 8900. Otherwise 7800 should be our next resistance, but if we form a higher low (higher than 7800) this would look very bullish, at least on an hourly perspective.
I will update as soon as I wake up tomorrow.
Just my 2 cents. Hope you guys find it helpful.
RMI still above 50, as I have commented on previous idea, the price will only go down when the RMI shows a massive negative slope.
Money Flow still confirms solid buying power. Still, the 15min chart already signaled some weakness. I would still hold on to BTC position and have a stop loss at 8090, but I don't advise against going short now.
I am closely watching 8400 resistance and 8100 support level. If we see a bull break the next test levels would be the previous 8600 and then 8900. Otherwise 7800 should be our next resistance, but if we form a higher low (higher than 7800) this would look very bullish, at least on an hourly perspective.
I will update as soon as I wake up tomorrow.
Just my 2 cents. Hope you guys find it helpful.
Comment:
This bull flag has been looking very promising. As soon as we break 8400 the price will surge above ~8600