Right before 1W and 1M candle closes... Also a potential bearish divergence may eventually form (from $5,500 red candle) if price hits $5,280~ confirming the downward channel.
Trade active
Note
RSI bullish divergence in 4hr TF. Very bearish market sentiment right now: Note
Wedge and channel's bottom (grey line) acting as resistance on 2/4hr. Bulls must close the next above $5,160 if they want another chance. MACD cross in play as well.Breaking $5,210 will turn things bullish in very short term. I've set my SL set at BEP: $5,200
Note
RSI bearish divergenceTrade closed: stop reached
Closed in BEP because my SL got triggered. Bullish momentum is building, good entry for long.
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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.