Short

BTCUSD Long Term Exhaustion Looking at Correction?

By gelnd

Updated

Not a short position, just an analysis

-Bearish MACD divergence (4h)
-Bearish RSI divergence (for the nth time) (4h)

Note

s3.amazonaws.com/tradingview/snapshots/r/rYkNvImm.png
1D candles

Note

s3.amazonaws.com/tradingview/snapshots/b/bdA3JWwK.png
Here is a log version of the same chart, a little bit easier to see

Note

s3.amazonaws.com/tradingview/snapshots/v/VthpBcfB.png Breakout downwards soon? Could be a short position

Note

s3.amazonaws.com/tradingview/snapshots/w/w7oEebQZ.png
Depending which way it breaks out on the 2 levels BTC is either a long or a short. Long would be indicating that the 5th wave I drew would be more of an extended third wave rather than a fifth and that this correction was wave 4. If it breaks downward, then it is likely what I drew in the original.

Note

s3.amazonaws.com/tradingview/snapshots/z/zmZEasrQ.png
Yikes. "EXIT ALL CRYPTO MARKETS" as they say. /s

gelnd

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.