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firmestudio
Oct 24, 2022 11:33 PM

BTCUSDT Deep Crab, CMF & RSI fractal Short

Bitcoin / USD TetherFTX

Description

As we can see on this 1D chart, BTCUSDT can be ready to drop as Chaikin Money Flow and RSI correlations seems to be close to repeat signals for a potential drop. A target for this possible impulsive bearish wave is a Deep Crab harmonic pattern aiming the bottom from this consolidation. A strong pullback can occurs @ the support area. For an effective signal to exit of this trade the LSMA of 28 periods breakout can be a good indicator to avoid of a non-profitable consolidation phase after a potential 10% average downward. All the profitable trend tends to stay below 28LSMA due to the oversold condition on RSI. All the key levels are displayed on this chart.
Comments
SwallowPremium
Thank you so much, this does make a lot of sense!
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