BitcoinUpdated There's a reason why btc isn't pumping this weekend...
Previous two impulsive moves out of Bitcoin occured on Fridays. We have seen some sideways grind this weekend and no follow through; what could be the reasons?
There's been a trendbreak out of our diagonal uptrend. We could construe that we are retesting it from the underside. We could also be accumulating below it for a pop upward.
Keen eyes on our resistance lines of bearish divergence on the 4hr timeframe.
I would not be surprised of a tap into 24200 zone, but I would be very cautious into this major news event week and to fade any 'scam wick' price action. If you have longs profit, I would seriously look into hedging or taking profits off the table.
There's been a trendbreak out of our diagonal uptrend. We could construe that we are retesting it from the underside. We could also be accumulating below it for a pop upward.
Keen eyes on our resistance lines of bearish divergence on the 4hr timeframe.
I would not be surprised of a tap into 24200 zone, but I would be very cautious into this major news event week and to fade any 'scam wick' price action. If you have longs profit, I would seriously look into hedging or taking profits off the table.
Note
$24200 target reached :)
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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.