BTC is the local top in?
Updated
Reasons to be bearish here
- 5 impulsive waves up
- Rising wedge
- Declining volume
- Daily bearish divergence
- Weekly resistance
- Rising wedge
We saw a perfect reaction from the 3.618 fibonacci extension
The 4.236 extension is often the so called 'wave ender'. Touching this and giving a bearish reaction will give a short oppurtunity
In my opinion a great place for a good R/R short if we get some confirmation here.
- 5 impulsive waves up
- Rising wedge
- Declining volume
- Daily bearish divergence
- Weekly resistance
- Rising wedge
We saw a perfect reaction from the 3.618 fibonacci extension
The 4.236 extension is often the so called 'wave ender'. Touching this and giving a bearish reaction will give a short oppurtunity
In my opinion a great place for a good R/R short if we get some confirmation here.
Comment
PingTouched the fib
Will open a short here if 1h/4h closes as SFP as a hedge to my spot longs
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
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.