BTC had $6.4M in SHORT liquidations to squeeze the price action. Will this be a sustained breakout?
To start to become bullish, a break and confirmation above macro trend will need to occur.
This could be a false breakout in the short term.
Monitor the 1D MA50 as resistance also.
Then there is heavy cloud cover to overcome and there isn't even a green twist yet.
Good Luck.
To start to become bullish, a break and confirmation above macro trend will need to occur.
This could be a false breakout in the short term.
Monitor the 1D MA50 as resistance also.
Then there is heavy cloud cover to overcome and there isn't even a green twist yet.
Good Luck.
Note
Monitoring for a Distribution top in this range in lower timeframes
Note
At Macro Trend again. 15min RSI is high, so for sure a cool down if not a large rejection.
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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.