BTC is confirming bearish Divergence on the monthly chart with RSI.
Previous Monthly candle with a big Down close candle with a big body. Which shows strong bearish strength. On the current Monthly candle it went up to touch the CISD (Change in state of delivery) and it is heading down to claim the candle low.
If you go back to the daily chart you can see that we are having a rounding top and rejection from the FVG (bearish FVG) between (86,886 and 87,800).
Now that everything is lining up with our bearish bias. We are ready to take a Short trade targeting the closest wick candle up that caused the recent push higher.
Market makers are going to push the price down to target all the liquidity that is sitting there. This type of liquidity is called and engineered liquidity.
Please see the chart for Entry, Take Profit and Stop loss values.
This setup will give you 4.2 R/R.
This is just for informational purposes and not a financial advice.
Previous Monthly candle with a big Down close candle with a big body. Which shows strong bearish strength. On the current Monthly candle it went up to touch the CISD (Change in state of delivery) and it is heading down to claim the candle low.
If you go back to the daily chart you can see that we are having a rounding top and rejection from the FVG (bearish FVG) between (86,886 and 87,800).
Now that everything is lining up with our bearish bias. We are ready to take a Short trade targeting the closest wick candle up that caused the recent push higher.
Market makers are going to push the price down to target all the liquidity that is sitting there. This type of liquidity is called and engineered liquidity.
Please see the chart for Entry, Take Profit and Stop loss values.
This setup will give you 4.2 R/R.
This is just for informational purposes and not a financial advice.
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.
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.