BTCUSD Bullish momentum confirmation
Updated
What a beauty move.
But be honest...who didn't saw that guys? Just need some manual draws on RSI(20).
RSI(20) breakout once, than confirmed twice.
Look what caused this on the candles chart:
What's next?
In the next 45 minutes (before the next 1H close) bitcoin will decide : which direction to keep before this weekend.
Be safe: it could be a big bulltrap before weekend - and whales could be tricky, thats why I'm preferred the a SHORT position soon near to 11k - hedging against current profitable LONG.
CONCLUSTION
* RSI(20) not only good for detecting divergences (I've wrote a good article here), but also good for finding the right momentum to entering a trade.
* Don't use '"trade and pray" strategy ... it's a noob's way. Better to entering into confirmed trend via the momentums.
If you have any technical analysis question - I will answering it today in the comment section!
But be honest...who didn't saw that guys? Just need some manual draws on RSI(20).
RSI(20) breakout once, than confirmed twice.
Look what caused this on the candles chart:
What's next?
In the next 45 minutes (before the next 1H close) bitcoin will decide : which direction to keep before this weekend.
Be safe: it could be a big bulltrap before weekend - and whales could be tricky, thats why I'm preferred the a SHORT position soon near to 11k - hedging against current profitable LONG.
CONCLUSTION
* RSI(20) not only good for detecting divergences (I've wrote a good article here), but also good for finding the right momentum to entering a trade.
* Don't use '"trade and pray" strategy ... it's a noob's way. Better to entering into confirmed trend via the momentums.
If you have any technical analysis question - I will answering it today in the comment section!
Note
And big bulltrap happened finally before weekend.Breakout to 11.2k rejected because very weak and fearfull buying interest.
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✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves
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