Bitcoin are we going to break this trend line? Will ETF save us?

BTCUSD

ETF ETF ETF ETF!

Showing strong bullish momentum over the past few days for Bitcoin a lot of build up over ETF announcements.

In my opinion if ETF does not get approve many investors will be disappointed and you can see sell-off occur.

Currently 2 key resistance is in our way
- Down trend line
- Fib retracement Golden Pocket

It is still too early to enter any shorts as it would be a counter trend trade + naked short.

Will start to monitor and start to notice for exhaustion.

Kommentera:

4hr time frame, showing first signs of weakness. Usually a double top or break above the zone. Shall monitor closely with rejection at the fib levels.

Kommentera:

Shorted BTC

Kommentera:

was waiting patiently for the double top to form always wait for more confirmation
- MACD cross
- Bearish divergence
- Double top
- Decrease volume
- Fib retracement (golden pocket zone)

Kommentera:

Back from holiday. Short closed with profit
Seems like the perfect fake out with that trend line break with the fib line as the snag