BitcoinShort
BTC Breakdown of FOMO channel targets 21300 19300 18800
Updated
Not financial advice.
Trade idea moving forward
Short at 22500 if we get there
1st take profit 21300
2nd take profit 19300
3rd take profit 18800
21300 must hold.. this in theory should be a RSI retest of the micro RSI high.
Lose 21300 target is 18800-19300 range
Explained on chart we had a breakdown of the Fear of missing out channel.
Reason I say that is because if you look at the RSI indicator you can clearly see we are in a bearish channel on the RSI and the RSI topped out when price was at 21300
Anything above 21300 currently stands as fear of missing out.
So a retest of fear of missing out in theory should be 21300 and hold that number to continue the upswing
Considering macro conditions and risk of higher interest rate hike there is some extreme fear setting in.
Always DYOR
Remember #PIK
Patience is Key
And always
#TLAW
Trade idea moving forward
Short at 22500 if we get there
1st take profit 21300
2nd take profit 19300
3rd take profit 18800
21300 must hold.. this in theory should be a RSI retest of the micro RSI high.
Lose 21300 target is 18800-19300 range
Explained on chart we had a breakdown of the Fear of missing out channel.
Reason I say that is because if you look at the RSI indicator you can clearly see we are in a bearish channel on the RSI and the RSI topped out when price was at 21300
Anything above 21300 currently stands as fear of missing out.
So a retest of fear of missing out in theory should be 21300 and hold that number to continue the upswing
Considering macro conditions and risk of higher interest rate hike there is some extreme fear setting in.
Always DYOR
Remember #PIK
Patience is Key
And always
#TLAW
Trade active
Target 1 reached
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