Why bitcoin needs a good drop ?
Reasons that i believe Bitcoin Short Term Drop:
1- RSI on D1 Timezone is showing 80.000 means that there is a huge overbouth happened on Bitcoin and every time that RSI touched 80, there is at least 30% drop happens after that.
2- ABCD Pattern now 70% completed.
3- After this huge jump, bitcoin needs a retracement so it can confirm support level as an strong level and then jump again...
By the way, it's not a good idea to sell your asset when we have bulls available trend, but this is for this IDEA is for RISK TAKERS, if you dont wanna risk you can wait to drop and then buy Bitcoin as a long term investment...
1- RSI on D1 Timezone is showing 80.000 means that there is a huge overbouth happened on Bitcoin and every time that RSI touched 80, there is at least 30% drop happens after that.
2- ABCD Pattern now 70% completed.
3- After this huge jump, bitcoin needs a retracement so it can confirm support level as an strong level and then jump again...
By the way, it's not a good idea to sell your asset when we have bulls available trend, but this is for this IDEA is for RISK TAKERS, if you dont wanna risk you can wait to drop and then buy Bitcoin as a long term investment...
Trade active
Going down, and we are in profit now...Note
ABCD Pattern not valid anymore. But divergance and RSI still confirms almost 30% of dropOrder cancelled
Closed on BE
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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.