Bitcoin is currently in price discovery mode and still showing strength.
Right now it is safer to be longing dips than it is to start shorting, however there are a few things we need to be aware of.
-RSI is showing bearish divergence with price. This is an indication that price is running out of steam, however don't short just yet. Divergences can last longer than you can stay solvent.
-Price is approaching the diagonal trendline. How it reacts here will give us an idea where the price is going next.
-Ideally we want to see it bounce up and over the previous high and retest the high before moving up to $60k
-If it breaks through the trendline and rejects off the previous high, we could be on our way to $40k.
Happy trading.
Right now it is safer to be longing dips than it is to start shorting, however there are a few things we need to be aware of.
-RSI is showing bearish divergence with price. This is an indication that price is running out of steam, however don't short just yet. Divergences can last longer than you can stay solvent.
-Price is approaching the diagonal trendline. How it reacts here will give us an idea where the price is going next.
-Ideally we want to see it bounce up and over the previous high and retest the high before moving up to $60k
-If it breaks through the trendline and rejects off the previous high, we could be on our way to $40k.
Happy trading.
Regular $100k+ profit daily.
Join my Discord - see www.ForgeTrades.com for details.
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Get discounted fees here:
www.ftx.com/
partner.bybit.com/b/Forge
www.binance.com/en/register?ref=13128793
Join my Discord - see www.ForgeTrades.com for details.
Follow me on Twitter!
Get discounted fees here:
www.ftx.com/
partner.bybit.com/b/Forge
www.binance.com/en/register?ref=13128793