BTC first bigger retracement on the way?

Updated

RSI momentum decreasing on the 1D TF (+divergence)

RSI momentum leveling out on the 1W TF and seems to starting a turn upwards

Possibly setting up for a first bigger retracement, but still room for further down movement I think, if you compare to the "januari sell-off"!!

just my 2 cents ;-)
JD.

#nottradingadvice #DYOR

Note

Setting up for a bounce back at the green or red trendline?

Note

I guess it bounced off the red line,... quite exactly actually! ;-)

Note

Let's see if the histogram bounces off this trendline or breaks it.
With a break a further down move is to be expected.

Note

Bounce or break coming closer!

Note

If the histogram bounces back down from the green trendline, I expect a retracement back to the wedge that I think is forming.

Note

...and it bounced back to retest the lower resistance level! ;-)

Duyck

Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.

You can contact me for info/access in PM or on Telegram: @jduyck
PLS, DON'T ASK FOR ACCESS IN THE COMMENT SECTION!

Also on:

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.