#BTCUSDT Bearish Divergence in LTF. Correction Incoming?
Updated
Welcome to this quick Update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
BTC Broke the 50k resistance and is currently trading at 50.2k.
Everyone is very bullish now and even the altcoins are showing a lot of signs of strength in Higher time frame charts.
In the last update, I said it's better to wait for correction in BTC to get into good positions with alts.
I haven't seen that yet.
BTC is also showing Bearish divergence in the lower time frame as you can see in the chart.
The market has been. green since many days.
Also in Extreme greed.
You have to be extra cautious while trading.
If you are new you better wait for the right time to enter.
All my futures positions are closed now in massive profits.
Holding on Spot only.
As per the chart, we can expect a retracement towards the green box 1 and 2 both. ranging from 45k to 48k level.
Daily closes above the 48k are all that is needed for now.
Close above 51k means new ATH.
So overall trend is bullish but in the short term, I expect some correction here.
What's your thought on this?
Do you think BTC will start some corrections from here?
Or do you think BTC could easily pump from here?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
#PEACE
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
BTC Broke the 50k resistance and is currently trading at 50.2k.
Everyone is very bullish now and even the altcoins are showing a lot of signs of strength in Higher time frame charts.
In the last update, I said it's better to wait for correction in BTC to get into good positions with alts.
I haven't seen that yet.
BTC is also showing Bearish divergence in the lower time frame as you can see in the chart.
The market has been. green since many days.
Also in Extreme greed.
You have to be extra cautious while trading.
If you are new you better wait for the right time to enter.
All my futures positions are closed now in massive profits.
Holding on Spot only.
As per the chart, we can expect a retracement towards the green box 1 and 2 both. ranging from 45k to 48k level.
Daily closes above the 48k are all that is needed for now.
Close above 51k means new ATH.
So overall trend is bullish but in the short term, I expect some correction here.
What's your thought on this?
Do you think BTC will start some corrections from here?
Or do you think BTC could easily pump from here?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
#PEACE
Trade active
Following the path so far.
21 MA is the only savior here.
Once we close below this level expect 44k to 47k level to be tested.
Avoid margin trading.
And start accumulating your favourite altcoins or the ones I will be recommending this week on spot.
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