BTC Bouncing Bear
The bear is bouncing this weekend.
Targeting c. $3750-3900 partially due to a bounce from the retest around the 3500/600 support level and further compounded by high st traders closing their shorts on Friday.
There is still huge mac-d divergence which needs resolving and potential H&S formation to complete on lower and higher time frames.
Looking to refull shorts at that level A break of 4100 would be bullish and invalidate this trend.
Targeting c. $3750-3900 partially due to a bounce from the retest around the 3500/600 support level and further compounded by high st traders closing their shorts on Friday.
There is still huge mac-d divergence which needs resolving and potential H&S formation to complete on lower and higher time frames.
Looking to refull shorts at that level A break of 4100 would be bullish and invalidate this trend.
Trade active
Note
there may be another opportunity to short at 3850.Trade closed: stop reached
Closed at 3950Posting new idea. this bear is about to be squeezed.
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Related publications
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.