Bitcoin(BTCUSD) market has been heavily overbought since its retracement in May this year 2021. Our team issued Sell/Short position when the market was near the all-time high at $64,805 in April warning our followers and investors of the correction.
1st Sell Analysis:
2nd Sell Analysis:
We also took our sell position because of Fibonacci extension and exhaustion levels. However, due to having so many things on the chart, we did not publish one with the exhaustion levels. (However, I have placed the chart beside our latest analysis).
We caught the big move up in June 2021!
Our team sent out Buy/Long positions when Bitcoin hit the $28,000 range and set our take profit at $46,000-$51,000 range and then followed by a short-term Sell/Short position to $40,000 range.
Buy Analysis:
Unfortunately, our short-term buy/sell entries are private and only viewable by our gold members hence we are unable to link the chart analysis.
So what's next for Bitcoin?
We are still looking for sell entries for Bitcoin until the $14,000-$20,000 range as the market has been on a bullish run since the start of Bitcoin where RSI levels are constantly above the 50 levels. This would also mean that it is likely that a retracement to the previous structure level in which would test below the RSI 50 level.
At the price range of $14,000-$20,000, we would also complete our larger timeframe Fibonacci retracement as well as having to test our previous structure levels.
1st Sell Analysis:
2nd Sell Analysis:
We also took our sell position because of Fibonacci extension and exhaustion levels. However, due to having so many things on the chart, we did not publish one with the exhaustion levels. (However, I have placed the chart beside our latest analysis).
We caught the big move up in June 2021!
Our team sent out Buy/Long positions when Bitcoin hit the $28,000 range and set our take profit at $46,000-$51,000 range and then followed by a short-term Sell/Short position to $40,000 range.
Buy Analysis:
Unfortunately, our short-term buy/sell entries are private and only viewable by our gold members hence we are unable to link the chart analysis.
So what's next for Bitcoin?
We are still looking for sell entries for Bitcoin until the $14,000-$20,000 range as the market has been on a bullish run since the start of Bitcoin where RSI levels are constantly above the 50 levels. This would also mean that it is likely that a retracement to the previous structure level in which would test below the RSI 50 level.
At the price range of $14,000-$20,000, we would also complete our larger timeframe Fibonacci retracement as well as having to test our previous structure levels.
