Looks like XBTUSD is going to retrace from 16.5k and has already started moving. I suspect the cause is the price/RSI divergence that started setting up around 22:00 (Pacific) on Christmas day and has now almost exactly 24h old . I've yet to calculate my target exit price so I'll update if/when I get a moment - any contributions with your analysis on exit price more than welcome!
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I closed my short at 14.6 this morning - the optimum excite point was 14.5 but I didn't want to risk it in case I was wrong about the double bottom. Looks like it hit the 0.23 fib level, which was my dream retracement. I'm happy!
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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.