Bitcoin Started to Distribution of Phase D
Updated
Weekly rsi was overbought and it has sell pressure from the weekly ma50 so I think we just started to Phase D of distribution. Before to rise again, rsi needs to take breath also we need to check support lines. This brings a short opportunity here.
Short between 5250-5150.
Tp1 : 4920
Tp2 : 4780
If support lines broke,
Tp3 : 4620
Tp4 : 4480
Stop Loss: over 5350.
This is my first post in here so all kindly criticism and suggestions are welcome.
All the best and good luck for you.
Short between 5250-5150.
Tp1 : 4920
Tp2 : 4780
If support lines broke,
Tp3 : 4620
Tp4 : 4480
Stop Loss: over 5350.
This is my first post in here so all kindly criticism and suggestions are welcome.
All the best and good luck for you.
Trade closed: stop reached
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