BitcoinUpdated BTCUSD - Bear > Bull?
Hi all,
BTCUSD, made a nice bounce again from the trendline. It seems people start buying the dip. However,
- The momentum is not so strong from the last swing high
- We have divergence showing clearly on this momentum lost
- We have nice bearish candle yesterday
So we have all the nice bias for Bear more than Bull in this case.
- If we do conservative approach, we can wait for BTC to break today's low to confirm the dip is coming
- If we do agressive approach, we can short sell on lower timeframe when BTC makes some correction (upside) a bit more.
I myself prefer to wait
BTCUSD, made a nice bounce again from the trendline. It seems people start buying the dip. However,
- The momentum is not so strong from the last swing high
- We have divergence showing clearly on this momentum lost
- We have nice bearish candle yesterday
So we have all the nice bias for Bear more than Bull in this case.
- If we do conservative approach, we can wait for BTC to break today's low to confirm the dip is coming
- If we do agressive approach, we can short sell on lower timeframe when BTC makes some correction (upside) a bit more.
I myself prefer to wait
Note
I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
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.
I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
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.