Decision-time for bitcoin is upon us. Either we see some sort of a bounce soon or we enter the double-bottom or even sub $3K terrain.
Nothing is ever easy. With a bullish divergence forming according to MACD, it is quite possible that BTC will shoot upwards before entering the real demand zone (buy volume is still low).
However, there is strong resistance above. In case I miss an entry with a descent risk-reward ratio (entry at around $3,450, with a stop-loss around the RSI breakdown in the $3,350 ish area), I’ll be opening shorts at around $3,750.
Nothing is ever easy. With a bullish divergence forming according to MACD, it is quite possible that BTC will shoot upwards before entering the real demand zone (buy volume is still low).
However, there is strong resistance above. In case I miss an entry with a descent risk-reward ratio (entry at around $3,450, with a stop-loss around the RSI breakdown in the $3,350 ish area), I’ll be opening shorts at around $3,750.
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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.