BTC expect lower prices soon...
Folks,
Will there be a retest of lower prices before breaking trough the resistance levels...
I like to keep it quite simple.. The edge i personally use for my own strategy is making use of price action, Elliot wave theory, candlesticks reading, momentum and RSI..
Momentum is because the way it is constructed the preceder of price.. We see a lower high and new lower low has been set and you can draw the trendline downwards..
It is normal for price keep moving up ( this is called bearish divergence) and is in a strong trend quite normal (early stages).
What we see here are just first signs of the price slowing down..
Take in consideration that we are getting to a resistance line and we see a little rejecting of higher prices.. ( candlesticks)
If you look back in history we see this same resistance line got rejected two times earlier and you see the effect afterwards..
Human psychology is something quite integrating and the chances of these scenarios happening again is quite there..
At the end of the road we play the game of high probability..
We play a game where manipulation is there by some whales... with 1 hit on the button they can take the chart on a totally different road..
Will there be a retest of lower prices before breaking trough the resistance levels...
I like to keep it quite simple.. The edge i personally use for my own strategy is making use of price action, Elliot wave theory, candlesticks reading, momentum and RSI..
Momentum is because the way it is constructed the preceder of price.. We see a lower high and new lower low has been set and you can draw the trendline downwards..
It is normal for price keep moving up ( this is called bearish divergence) and is in a strong trend quite normal (early stages).
What we see here are just first signs of the price slowing down..
Take in consideration that we are getting to a resistance line and we see a little rejecting of higher prices.. ( candlesticks)
If you look back in history we see this same resistance line got rejected two times earlier and you see the effect afterwards..
Human psychology is something quite integrating and the chances of these scenarios happening again is quite there..
At the end of the road we play the game of high probability..
We play a game where manipulation is there by some whales... with 1 hit on the button they can take the chart on a totally different road..
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.