BTCUSDT Bitcoin has made a 5 wave move to the downside, it is forming a bullish RSI divergence on the 4-hour chart, it already shown climatic volume on the recent bounce, seems like downside should be limited from here in the short to mid-term. Long term, the trend is still down.
I expect a multi-week bounce from here, probably to the 50% retracement, around 92k, before continuing to move down to a deeper lower-low.
Good luck to you
Trade active
We just had a Bullish Engulfing Candle today, with daily RSI positive divergence and volume. Congratulations to those who went long on Bitcoin with me yesterday. The Take Profit area is market in red on the chart.Trump just paused tariffs for 90 days.
Enjoy the ride.
Trade closed: target reached
Target has been reached, but it seems like it will go higher, maybe to the area of 95k to 100k.Hope you have made money on this tarde.
Good luck to you
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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.