#BTC: Time to take some profit?
Divergence have been forming for BTC since the start of the year. Daily RSI dipped below 40 for the first time since the brief visit in September last year. The 61.8% retracement off the highs set in April is just above the 50DMA and have been resistance for the last 4 days. With momentum dropping we could see a larger pullback.
A pullback to 40k level and a hold above the trendline since October last year would be ideal for new long entries.
A pullback to 40k level and a hold above the trendline since October last year would be ideal for new long entries.
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.