Hello beutiful,
so we are looking for the price of bitcoin to bounce in the near future.
Death cross coming up of the 100 and 200 EMA daily, which could have shorts confident and maybe shaken out if we ralley into the death cross.
Falling wedge also a highly likely scenario on the 4h and 12h and also partially on the daily timeframe. Much resistance lies up ahead, but also critical support down below.
Will be important what happens on this weekend going into next week. This falling wedge could go on for one more week, so that means we could see the price slowly grind down further.
There seems to be a lack of followthrough for bears when price hits lower lows. We mostly ralley short term and hit the upwards trendline of the pattern.
There still is a lot of resistance and support so you really want to be carefull with stop lossses and in my opinion want to scale with small positions and low leverage since you can be shaken out easily.
I think price grinded down too far to be confident in entering short positions, but of course that is of your own judgement.
That's it for today, please check me out on YouTube, I must not post links sadly, so here is my name:
Enlightened Trading
There you will also be given more information on my current outlook, with links to my social media.
Cheers
so we are looking for the price of bitcoin to bounce in the near future.
Death cross coming up of the 100 and 200 EMA daily, which could have shorts confident and maybe shaken out if we ralley into the death cross.
Falling wedge also a highly likely scenario on the 4h and 12h and also partially on the daily timeframe. Much resistance lies up ahead, but also critical support down below.
Will be important what happens on this weekend going into next week. This falling wedge could go on for one more week, so that means we could see the price slowly grind down further.
There seems to be a lack of followthrough for bears when price hits lower lows. We mostly ralley short term and hit the upwards trendline of the pattern.
There still is a lot of resistance and support so you really want to be carefull with stop lossses and in my opinion want to scale with small positions and low leverage since you can be shaken out easily.
I think price grinded down too far to be confident in entering short positions, but of course that is of your own judgement.
That's it for today, please check me out on YouTube, I must not post links sadly, so here is my name:
Enlightened Trading
There you will also be given more information on my current outlook, with links to my social media.
Cheers
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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.