BTCUSDT POSSIBLE PULLBACK
BTCUSDT possible pullback
BTCUSDT formed long inside bar and RSI is overbought Price also made large FVG that usually needs to be mitigated
This usually indicate a slow in trend momentum and possible reversal or pullback.
Pullback :
1- Wait for the current candle to close with wick and below the yellow 0.618 fib (DONE)
2-Breakdown of the orange line and RSI below 70 level.
3-Enter after the breakdown of the red line @ 49372.22 and RSI should cross below yellow MA
4- Must use tight stop loss.
OB mitigation :
1-Wait for RSI crossing up the yellow MA for up entry
2-Must use tight stoploss.
Invalid on chart.
I hope this will help someone .
Good LUck
BTCUSDT formed long inside bar and RSI is overbought Price also made large FVG that usually needs to be mitigated
This usually indicate a slow in trend momentum and possible reversal or pullback.
Pullback :
1- Wait for the current candle to close with wick and below the yellow 0.618 fib (DONE)
2-Breakdown of the orange line and RSI below 70 level.
3-Enter after the breakdown of the red line @ 49372.22 and RSI should cross below yellow MA
4- Must use tight stop loss.
OB mitigation :
1-Wait for RSI crossing up the yellow MA for up entry
2-Must use tight stoploss.
Invalid on chart.
I hope this will help someone .
Good LUck
Note
Probably a liquidity sweepTrade closed manually
Momentum is weak but BTCUSDT still needs a pullback as long as we did not break the high .Good LUck
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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.