BTC/USDT (Distribution in low time frame)
Hello to bitcharge fam and friends,
i'de like to share my idea about bitcoin chart in low time frame. as you may noticed bitcoin pushed stronglyfor 4 consecutive weeks and gave us hope for coming weeks. dispite fomc meeting chart says we are looking at a distribution phase. with open gap on CME chart at 20k-20.5k that works as magnet and untested MA200 around 19750$. by adding RSI overbought condition for days i belive we will see a correction in bitcoin trend. RSI already broken trend line and i expect to see downtrend continuation for this week. Bear in mind that weekly candles and monthly candle close bullish and it's too early to get bearish in higher timeframes. as always, DYOR before entering any trade and be safe.
i'de like to share my idea about bitcoin chart in low time frame. as you may noticed bitcoin pushed stronglyfor 4 consecutive weeks and gave us hope for coming weeks. dispite fomc meeting chart says we are looking at a distribution phase. with open gap on CME chart at 20k-20.5k that works as magnet and untested MA200 around 19750$. by adding RSI overbought condition for days i belive we will see a correction in bitcoin trend. RSI already broken trend line and i expect to see downtrend continuation for this week. Bear in mind that weekly candles and monthly candle close bullish and it's too early to get bearish in higher timeframes. as always, DYOR before entering any trade and be safe.
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.