Hello, this is D.VA.
Bitcoin has shown bullish movement since yesterday. However, since we confront the major resistance, we think it is better to confirm profits rather than long here.
1. A giant resistance trend (Red Line)
2. Triangle convergence resistance (Yellow)
3. Possible bearish flag pattern (Brown)
4. Possible Bearish Divergence
5. Longs overtook Shorts (lower liquidation for bulls)
Thus, we recommend you to have enough cash and be aware of it to breakthrough 7000 level. The total market seems good so far, and still there is a chance to make a new high.
If I do margin trade, I would short at the 6970 level expecting the overshooting.
It is not late to long after it breakthrough 7000 level
Bitcoin has shown bullish movement since yesterday. However, since we confront the major resistance, we think it is better to confirm profits rather than long here.
1. A giant resistance trend (Red Line)
2. Triangle convergence resistance (Yellow)
3. Possible bearish flag pattern (Brown)
4. Possible Bearish Divergence
5. Longs overtook Shorts (lower liquidation for bulls)
Thus, we recommend you to have enough cash and be aware of it to breakthrough 7000 level. The total market seems good so far, and still there is a chance to make a new high.
If I do margin trade, I would short at the 6970 level expecting the overshooting.
It is not late to long after it breakthrough 7000 level