BTC Time for a pullback soon?
Updated
So, The level we are watching is 9.4k. Trade - Short near 9.4k- if you can get a short near 9250 that'd be fine as well. Exit the trade when price closes above 9.3k on the 4h.
With targets being ~8.9k and 8.5k areas. If price goes above 9.4k and closes the 4h above 9.4k with good volume, that will be a sign to get out of the trade.
4 hr bearish divergence plays out sometimes. Let's see if price comes back and tests 9.4k again, I am unsure whether we will reach 10k now. Managing trade on smaller time frame is best for this type of trade.
With targets being ~8.9k and 8.5k areas. If price goes above 9.4k and closes the 4h above 9.4k with good volume, that will be a sign to get out of the trade.
4 hr bearish divergence plays out sometimes. Let's see if price comes back and tests 9.4k again, I am unsure whether we will reach 10k now. Managing trade on smaller time frame is best for this type of trade.
Note
I will update the idea when its time to exit the trade/when the trade goes against.Note
8.9k support holding strong..Not sure we'll be able to break this support this time..Some sort of a bullish divergence forming on the hourly..Although its not a 100% exit signal, Wouldn't be a bad idea to take some profits now.
Trade closed: target reached
Well for now btc price seems to be content by not breaking 8.9k level. I took profits at 9k area. Just waiting and watching how it reacts on the re-test of 9.2k for now.
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