BTC/USD Short 10% Short

Bitcoin / United States DollarCoinbase

Description

⋅ Jun 24, 2020 11:58 AM

COINBASE:BTCUSD Daily RSI is showing bearish divergence and has dropped to 20. Historically, daily RSI dropping below 20 has been a highly reliable short signal. The last 5 times daily RSI broke below 20 price drops ranging from $1091 (10.46%) to $5069 (56.78%) followed.

More cautious traders can wait for confirmation with downward break of the lower pennant trend line that has formed on the daily. The downward breakout should be coupled with continued decreasing daily volume and RSI flooring at zero.

Look for a target of 8533.98, down 10.66% from today's open.
s3.amazonaws.com/tradingview/snapshots/0/0JEUSAlr.png

Not investment advice. Historical performance is not always indicative of future performance. This is one of several bearish and bullish scenarios to consider

Comment

⋅ Jun 25, 2020 3:32 AM

Wicked through lower pennant trend line. Retesting now.

Comment

⋅ Jun 27, 2020 9:04 PM

This could playout like this. s3.amazonaws.com/tradingview/snapshots/t/TuG39FPd.png

Comment

⋅ Jun 27, 2020 9:19 PM

Progressed to 7.71% down with the latest move with a dead cat recoiling to the.382 fib . Target of 8533.98 is still in play.

Comments

AboveDuality

⋅ Jun 24, 2020 1:55 PM

Soon we goonna fill you target, probably one more fake out to upside left.
My weekly POV

alexhiggins732

⋅ Jun 25, 2020 3:34 AM

@AboveDuality, certainly possible.