CAUTION: BTC at a critical zone ~ Wait and observe
Diupdate
The image is self-explanatory guys. However, the thoughts are-
The volume is dropping, the OBV is on the decline, the RSI shows bearish divergence and the price is trying to head up - This means, trade with caution!
Clearly, we need to break through and retest successfully R1 to be considered bullish. Anyone else calling this bullish at this point is bullshitting.
The support S1 is crucial, go down and we have support at S2 (thin) and major support at S3. We need to be prepared for that. This cycle is going to be lengthened and that means we need to correct in order to accumulate and shoot up, as simple as that.
I would keep watching this daily like a hawk, go all in on a successful retest of R1 and if we don't and if we go sideways, might be a good time to risk some alt gains but remember, a breakdown anytime below S1 for BTC might mean death for ALTS. So if you are trading alts, don't trade for on a higher timeframe and go with 4H graphs.
Cheers!
The volume is dropping, the OBV is on the decline, the RSI shows bearish divergence and the price is trying to head up - This means, trade with caution!
Clearly, we need to break through and retest successfully R1 to be considered bullish. Anyone else calling this bullish at this point is bullshitting.
The support S1 is crucial, go down and we have support at S2 (thin) and major support at S3. We need to be prepared for that. This cycle is going to be lengthened and that means we need to correct in order to accumulate and shoot up, as simple as that.
I would keep watching this daily like a hawk, go all in on a successful retest of R1 and if we don't and if we go sideways, might be a good time to risk some alt gains but remember, a breakdown anytime below S1 for BTC might mean death for ALTS. So if you are trading alts, don't trade for on a higher timeframe and go with 4H graphs.
Cheers!
Komentar
Couldn't have been more true! There you go, the 58K.Komentar
Couldn't have been more correct! 42K hit and supported.
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