BitcoinShort
BTCUSD - Short on 4hr
Updated
This would be a short term trade, as we're trading against the trend.
Key takeaways:
Price topping out around 200 day MA
Lower volume levels on the bullish price action
It looks like a bearish divergence on just about every indicator that I use regularly.
-MACD
-Stochastic
-StochasticRSI
-RSI/SmoothedRSI
I would look for a test of our old channel resistance or 50 period 4 hr MA to take profits. It's a difficult time to trade against the bullish sentiment and price action but in order to break these divergences Bitcoin will have to pump HARD and probably break the 200 day MA. If I were trading this with margin I would definitely keep TIGHT stops, if it does go the other way could easily hit 10k.
DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.
Key takeaways:
Price topping out around 200 day MA
Lower volume levels on the bullish price action
It looks like a bearish divergence on just about every indicator that I use regularly.
-MACD
-Stochastic
-StochasticRSI
-RSI/SmoothedRSI
I would look for a test of our old channel resistance or 50 period 4 hr MA to take profits. It's a difficult time to trade against the bullish sentiment and price action but in order to break these divergences Bitcoin will have to pump HARD and probably break the 200 day MA. If I were trading this with margin I would definitely keep TIGHT stops, if it does go the other way could easily hit 10k.
DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.
Trade closed: stop reached
Stopped out. Take losses and move on.Called for tight stops and used small position/low margin.
Could be on the way to 10k :)
Note
It was a stop hunt, should have figured. Still printed the divergences, but higher up than spotted originally.
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📺 YouTube: youtube.com/bigbits
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🐦 Twitter: twitter.com/BigBitsIO
💸 Save $30 on TradingView Paid Plan: bit.ly/2CaRfjs
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