Bitcoin / TetherShort
End of E ascending Elliot Wave, beginning of correction wave A
Struggling to pass the 7200$ resistance, the end is near for the E wave.
If BTC goes to $7500+, then it will invalidate the pattern, as the 3rd wave would have a smaller amplitude.
Nonetheless, RSI is clearly showing signs of overbought. MACD crossed 3 or 4 days ago but can be taken into account as it does not had enough momentum.
In conclusion, solid short for me.
If BTC goes to $7500+, then it will invalidate the pattern, as the 3rd wave would have a smaller amplitude.
Nonetheless, RSI is clearly showing signs of overbought. MACD crossed 3 or 4 days ago but can be taken into account as it does not had enough momentum.
In conclusion, solid short for me.
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.