Bitcoin - Intraday - We look to Sell a break of 49868 (stop at 50555)
Daily signals for sentiment are at overbought extremes. Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Bearish divergence is expected to cap gains.
A higher correction is expected.
20 1hour EMA is at 45600.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Our profit targets will be 47826 and 47226
Resistance: 50500 / 51500 / 52000
Support: 50000 / 49400 / 48200
Daily signals for sentiment are at overbought extremes. Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Bearish divergence is expected to cap gains.
A higher correction is expected.
20 1hour EMA is at 45600.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Our profit targets will be 47826 and 47226
Resistance: 50500 / 51500 / 52000
Support: 50000 / 49400 / 48200
Trade active
Trade closed: target reached
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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.
Related publications
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.