BTC is in a strong trading position, arguably the busiest area ever.
Since March 14 it has almost + 30% and I think it can easily have a physiological retracement due to some unloading of LONG positions.
This resistance is one of the strongest and in the event of a rebound it could lean against the Wedge support at 45.5k or the MA 200 which serves as a support at 44.5-45k.
As you can see we have the RSI in hyper bought, a WARNING and danger signal for those who want to open long (very risky).
The formation of a Buttefly pattern also ended right in this 48k zone which could push BTC down as described above.
What do you think?
Since March 14 it has almost + 30% and I think it can easily have a physiological retracement due to some unloading of LONG positions.
This resistance is one of the strongest and in the event of a rebound it could lean against the Wedge support at 45.5k or the MA 200 which serves as a support at 44.5-45k.
As you can see we have the RSI in hyper bought, a WARNING and danger signal for those who want to open long (very risky).
The formation of a Buttefly pattern also ended right in this 48k zone which could push BTC down as described above.
What do you think?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.