Bitcoin's Intraday Setup
Updated
Bitcoin - Intraday - We look to Sell at 10656 (stop at 10704)
Broken out of the wedge to the downside.
Short term MACD has turned negative.
A lower correction is expected.
Short term bias is mildly bearish.
The medium term bias is mixed.
Trend line resistance is located at 10650.
Price action is forming a bearish flag which has a bias to break to the downside.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Our profit targets will be 10555 and 10484
Resistance: 10620 / 10660 / 10700
Support: 10560 / 10520 / 10480
Signal Centre
Broken out of the wedge to the downside.
Short term MACD has turned negative.
A lower correction is expected.
Short term bias is mildly bearish.
The medium term bias is mixed.
Trend line resistance is located at 10650.
Price action is forming a bearish flag which has a bias to break to the downside.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Our profit targets will be 10555 and 10484
Resistance: 10620 / 10660 / 10700
Support: 10560 / 10520 / 10480
Signal Centre
Trade closed: stop reached
Stop loss reached.
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