BTC is reversing on 1H (RSI = 39.452, MACD = -8.200, Highs/Lows = -23.6977, BBP = -115.9100) and below 6,852 we can assume that this bearish reversal is sustainable enough to drive the 4H Channel Up lower (already on a decreasing rate on RSI = 59.817,neutral CCI = 21.5111, Highs/Lows = 0.0000). We are closing the long earlier instead of 7,500, as the selling pressure from the extended Lower High sequence (blue dotted line with arrows) is strong. Although the technical Lower High extension on 1W is still just above the 0.6180 Fibonacci at 7,500, we are initiating the short position build up on Bitcoin at the current price with the second set for 7,500 (given the chance). TP1 = 6,541.80, TP2 = 6,082.70, TP3 = 5,609.10 (the latter with SL on BE).
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.