My last two Ideas were wayyyy too early, didn't think she'd have the steam to blast through so much historic resistance. Got stopped out on both, but, here we are.
The bearish RSI div should have been a sign at 12100 to go short. We tried to break through that local high the other day but failed to do so. BTC looks tired at these levels and lots of signs are pointing for some downward movment.
-The bands are starting to curl down on the 12h as well as the MA, indicating bearish reversal if no buying pressure steps in to carry this higher than the local highs. This will translate into higher time frames if the selling continues
-CME Gap that will be filled at 9600-9900
-Bull volume shrinking
-RSI lower highs with each rally
If we break down here with volume I expect a ride into the CME gap.
ideally you shorted close to 12k but I wanted to wait until this setup showed weakness before posting.
Ideal Short entry: 11900-12100
Next optimal entry: 11650-11800
Stop: 12200
TP: 10400-9600 (anywhere in here is an easy long as well)
This is not financial advice, take trades at your own risk. Good luck. Start stacking your satoshi for the next bull run
The bearish RSI div should have been a sign at 12100 to go short. We tried to break through that local high the other day but failed to do so. BTC looks tired at these levels and lots of signs are pointing for some downward movment.
-The bands are starting to curl down on the 12h as well as the MA, indicating bearish reversal if no buying pressure steps in to carry this higher than the local highs. This will translate into higher time frames if the selling continues
-CME Gap that will be filled at 9600-9900
-Bull volume shrinking
-RSI lower highs with each rally
If we break down here with volume I expect a ride into the CME gap.
ideally you shorted close to 12k but I wanted to wait until this setup showed weakness before posting.
Ideal Short entry: 11900-12100
Next optimal entry: 11650-11800
Stop: 12200
TP: 10400-9600 (anywhere in here is an easy long as well)
This is not financial advice, take trades at your own risk. Good luck. Start stacking your satoshi for the next bull run