AtomicStag2000

BTC USDT 1h - looking to enter long on retracement

BINANCE:BTCUSDT   Bitcoin / TetherUS
We had a really nice run yesterday! Price action went up swiftly and challenged 40k resistance level, but in the second move up, trying to break it, we had a divergence on RSI + news from Amazon not accepting BTC as payment this year struck back - taking us down a notch. Even from purely technical perspective, correction after a move like yesterday is inevitable. Exactly what you'd expect to see then - descent to 0.786 Fib and right through it to almost 0.618 Fib level (without really touching it) and here bouncing off support lines of 55MA and Ichimoku cloud. We might see another rally, if bull confidence is still intact. I'm more in favor of still going down a bit - to 35k, where I'd enter long position, looking for reversal. Let's see!

Hi there, join our community here: t.me/TheCoinStags_community

Autonomous bot trading is in the works, will be available soon to the public!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.