I expect the Price of Bitcoin to nosedive from here. BTC has failed to break the resistance level at $45000 and saw a sharp rejection from there.
In case you feel the Urge to FOMO into Supply Zone I can only pray that the Spirits be with you.
On the 4hr chart, the Indicators are showing Oversold hence it is absolutely normal that we see a little Pull Back, also for $ETH we are looking at a Potential OBV cum RSI bearish divergence which may cause a little Pull back, on the 4hr chart I won’t really place a trade to buy on a token that has a 74.24 RSI, it is due for a bit of correction and this is normal. For now, the target in this channel is $3118 and $3200.
$BTC has a quality resistance at $45k and I bet on it getting to $45,600 before a deviation, if we get a confirmation of the rejection then I’d go in for a short before then it is advisable to stay on the sidelines and watch how thing unfold.
As seen in the image sent the 3rd richest $BTC wallet transferred 3000BTC to coinbase and this could only mean one thing that the wallet wants to Dump some or all as BTCSentiment rightly stated that it sold Tops and Bought Bottoms.
I won’t advise fomo at resistance with the hope that it will break and hold the level, remember that not trading in itself is a Strategy and people tend to make mistakes because they are usually over-invested or overexposed.
$BTC showed evidence of Rejection at the $45000 resistance and the indicators are oversold, with the MACD on the 4hour doing a complete 180degree it’s only a matter of time before we enter full-blown reversal.
In case you feel the Urge to FOMO into Supply Zone I can only pray that the Spirits be with you.
On the 4hr chart, the Indicators are showing Oversold hence it is absolutely normal that we see a little Pull Back, also for $ETH we are looking at a Potential OBV cum RSI bearish divergence which may cause a little Pull back, on the 4hr chart I won’t really place a trade to buy on a token that has a 74.24 RSI, it is due for a bit of correction and this is normal. For now, the target in this channel is $3118 and $3200.
$BTC has a quality resistance at $45k and I bet on it getting to $45,600 before a deviation, if we get a confirmation of the rejection then I’d go in for a short before then it is advisable to stay on the sidelines and watch how thing unfold.
As seen in the image sent the 3rd richest $BTC wallet transferred 3000BTC to coinbase and this could only mean one thing that the wallet wants to Dump some or all as BTCSentiment rightly stated that it sold Tops and Bought Bottoms.
I won’t advise fomo at resistance with the hope that it will break and hold the level, remember that not trading in itself is a Strategy and people tend to make mistakes because they are usually over-invested or overexposed.
$BTC showed evidence of Rejection at the $45000 resistance and the indicators are oversold, with the MACD on the 4hour doing a complete 180degree it’s only a matter of time before we enter full-blown reversal.