Very Short Term Bitcoin Short, RSI Divergence into Resistance
As Bitcoin met expected resistance around $4,100...I am entering a short term short position.
Note the RSI divergence on the hourly chart, and such divergence, when it occurs at a resistance (or support the other way) carries more weight than a random one. I'm looking for bitcoin to come back at least to $3,874.
But more than a short, I've sold an amount of hodl alt coins to buy back at lower price, possibly as soon as later today. Volatility is back :).
If bitcoin pops through and makes a higher high for this move, use that as a stop, otherwise, I'll wait to see if stochastic can cycle back down and reevaluate.
Travis
JMJ - UIOGD
Note the RSI divergence on the hourly chart, and such divergence, when it occurs at a resistance (or support the other way) carries more weight than a random one. I'm looking for bitcoin to come back at least to $3,874.
But more than a short, I've sold an amount of hodl alt coins to buy back at lower price, possibly as soon as later today. Volatility is back :).
If bitcoin pops through and makes a higher high for this move, use that as a stop, otherwise, I'll wait to see if stochastic can cycle back down and reevaluate.
Travis
JMJ - UIOGD
Trade closed: target reached:
after needing more patience than i anticipated...bitcoin has reached the target of $3,874. i closed the majority of the short term short. will trail out what is left.