Keep it simple guys. 4h and Daily Stoch RSI indicate that Bitcoin is overbought short-term. There could be another pump to test 7.5k followed by a retracement. I want to see a daily close above EMA50 to remain short-term bullish. Otherwise, we are going to retest Fib 0.5 at least. If 6.8-7.1k will not hold, we will see a shift in trend.
Long-term I still remain bearish until the halvening.
Successful trading to everyone and stay safe!
Long-term I still remain bearish until the halvening.
Successful trading to everyone and stay safe!
Note
Bitcoin pulled back to 7.1k and has climbed back up ever since. The momentum and 4 hourly look good. I could see it going to 0.61 Fib at about 8k before we start going down again.
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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.