It is no doubt that BTC is in DownTrend, however, market is not falling simply.
There is a cautious signal of HIST bullish divergence and BTC fails to breakout a Trendline support 3 times.
It might retest 9k2 if the nearest Trendline Resistance is broken out
Short is full of RIsk now!
Correction wave is going to the end, I am waiting for a RSI bearish divergence in M15. In here, BTC is blocked by a resistance 8950~9k.
Therefore, I think that another bearish wave is coming to sink BTC to the previous Low, which would be a critical level. Let's wait and see!
Is it a bearish trend or consolidation of BTC?
It is no doubt that the market is controlled by Bears, and we might see BTC will hit 8k4, even 8k2 in few days later, i think. I think the later scenario has high probability and that is a critical level since it witnessed a huge demand with big Pinbar.
I think there will be a bounce back once BTC...
I am back, we can see a signal of RSI divergence clearly and also bears sink ETH under the support. We can see a Rising flag that could be a SELL signal.
We can go for a SHORT IF there exist a lower high, then you can sell at the falling edge as in the Chart
Wish u all a safe trade with high profit!
- Trend: Up
- Price approached a key resistance with an Evening Star pattern at top
- RSI Bearish divergence
I am waiting for a correction wave and a reliable Price action at level 174$.
If a Bullish signal occurs, we can have a Long position with TP at 204$
There are several signals for a good SHORT strategy
1. A Rising wedge is broken out and retest has been completed
2. A Strong rejection at the resistance occurs
3. Head and Shoulder pattern
=> Bears come back, seeking for a good entry.
D1: Down trend
H4: Up trend
H4: Breakout of a rising wedge
Wait and See how BTC reacts to the key level
Scenario 1 or 2 will happen??? Let me know your comments
Seek a reliable signal from market, high volatility, be careful with margin trading