Load your guns for a BTC outbreak (Bitcoin)
Unfortunately, BTC was unable to close above 6500 yesterday and revisited the trendline indicated in blue. This retracement is fortunately above the 6450 level, and hopefully, it will remain above there - no need for panic yet.
Indicators show a hidden bullish divergence, which can be a sign for a normal retracement. Retracement is also close to the 0.618 based on the previous higher low, so this could be a second chance to enter the market before a decent rally to 7000 begins. Also, both the 50 and 100 MA are about to cross, and signal a long opportunity.
Now I do always spot hidden divergences after normal divergences have occurred, so please take caution with this indicator. Should you take the trade, make sure to place a tight market stop under an appropriate level with appropriate risk/money management.
Indicators show a hidden bullish divergence, which can be a sign for a normal retracement. Retracement is also close to the 0.618 based on the previous higher low, so this could be a second chance to enter the market before a decent rally to 7000 begins. Also, both the 50 and 100 MA are about to cross, and signal a long opportunity.
Now I do always spot hidden divergences after normal divergences have occurred, so please take caution with this indicator. Should you take the trade, make sure to place a tight market stop under an appropriate level with appropriate risk/money management.
Trade closed: stop reached
Bulls didn't manage to breach 6500 again, big dump followed
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