Possible Short Term Top for BTC/USD
Updated
Pretty simple wave pattern here, given the volume and bullishness of Bitcoin I expect a 0.236 or 0.382 retrace. RSI divergence supports the idea.
Comment
Daily supports are shown in blue, hourly in black. The hourly aligns perfectly with the 0.236. One possible issue is the slight overlap of wave 4 and 1. If this idea is invalidated I will update shortly with an alternate count. Comment
Invalidated, next resistance is 55850 unless a double top occurs on 5 min (unlikely)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.