We can see a bullish divergence on the MACD and the RSI.
If Bitcoin is able to push through the orange resistance line we might expect a retrace to the upper box at the cyan line.
If Bitcoin is able to push through the orange resistance line we might expect a retrace to the upper box at the cyan line.
Trade active
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so far so goodgot an entry at 4174 and setting my main target at +/- 4750
taking Elliot Waves into consideration we may currently be situated on the third wave
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so because the retrace of this last bullish impulse was quite strong i flipped the chart to review my retrace idea and got more indications for it to may happen. There is always a chance that bitcoin may fall even more as bearish sentiment and trend is strong yet according to the chart I don’t see this drop below 4k as of yet.
what do you guys think?
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selling pressure was too high, closed the trade right before it went completely downhillNote
broke through everything, outlook is extremely bearish
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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.