BitcoinShort
BTC Bullish Momentum Used Up?
BTC has seen a push to the upside and may have one more small push to the upside left off the recent bullish momentum builiding. Looking at the 4hr line chart that momentum maybe running out fast.
IF these lower time frames turn back over to the down side rather quickly this will provide enough time for one or even two more nice moves to the down side before the high time frames have had a chance to really curve to the upside. Alt coins at the time would be destroyed.
Both the daily and the weekly are certainly getting low on the wave trend oscillator and appear to be slowly begining to roll over to the upside but this is sometimes when the largest part of a down move occurs as it is the point where high time frame momentum to the downside is at its make point.
Momentum on this 4 hr chart is already displaying very heavy bearish divergence indicating that the upward trend is at its max and will start to roll back to the down side very soon. The question is how far can price rise in that small amount of time.
There is certainly a chance price could brake free and possibly put in a large right shoulder but currently looking for a rejection from current level or possibly slightly higher in the 27k area before a possible hard and fast rejection to the down side.
Trade Well....
IF these lower time frames turn back over to the down side rather quickly this will provide enough time for one or even two more nice moves to the down side before the high time frames have had a chance to really curve to the upside. Alt coins at the time would be destroyed.
Both the daily and the weekly are certainly getting low on the wave trend oscillator and appear to be slowly begining to roll over to the upside but this is sometimes when the largest part of a down move occurs as it is the point where high time frame momentum to the downside is at its make point.
Momentum on this 4 hr chart is already displaying very heavy bearish divergence indicating that the upward trend is at its max and will start to roll back to the down side very soon. The question is how far can price rise in that small amount of time.
There is certainly a chance price could brake free and possibly put in a large right shoulder but currently looking for a rejection from current level or possibly slightly higher in the 27k area before a possible hard and fast rejection to the down side.
Trade Well....
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