On a middle term range BTC looks bullish . Price already broke out of the local trend line , RSI is above 50.
In the other hand, local resistance couldn't be tested, we might just have finished the 3rd Wave and will start 4th Wave on the next days.
In the short term (next 2-3 days) price will probably bounce down making a short position look very attractive.
BTC price seems to be consolidating. After hitting strong retacement levels (78.6%), RSI levels are getting higher.
We are waiting to close Short Position and open Long Position after further confirmation.
If support line at $6200 is broken, we endorse the bearish setup and hope to hit next support level at $6000 and $5800.
Action to be taken when local trend...
Light RSI Bullish Divergence signaling possible reversal on the next hours or day. Will be tightening trailing stop for opened Short Position after more bullish confirmation.
In the other hand, RSI levels are still very low and price will keep going down unless RSI reaches higher high and crosses over RSI 50 soon. Will be keeping trailing stop loose for opened...