Looking at BTC on the daily chart
We have currently reached the red zone between the 618 and 786 so this is the danger zone if you are thinking of going long
We do have some bearish divergence in the indicators but not enough to make a trade
* Bearish div in RSI
* W%R stupidly over bought
* Histogram is still in convergence
* OBV convergence
* Bearish divergence in volume
* The AB=CD off the inverse head and shoulders has played out
What I will be doing is waiting to see if someone will push this into the .786 to confirm bearish divergence in most indicators but most of all I need to see some bearish structure in price. Trade with caution
If you like what I do, drop a comment, tell me what you think, like and subscribing. Thanks :)
We have currently reached the red zone between the 618 and 786 so this is the danger zone if you are thinking of going long
We do have some bearish divergence in the indicators but not enough to make a trade
* Bearish div in RSI
* W%R stupidly over bought
* Histogram is still in convergence
* OBV convergence
* Bearish divergence in volume
* The AB=CD off the inverse head and shoulders has played out
What I will be doing is waiting to see if someone will push this into the .786 to confirm bearish divergence in most indicators but most of all I need to see some bearish structure in price. Trade with caution
If you like what I do, drop a comment, tell me what you think, like and subscribing. Thanks :)
Trade closed: target reached
Boy! I had to be patient for that one. Short is now acive Note
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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.