Bitcoin made a nice start to the week bouncing off support.
Im not convinced that this is 'the bounce' and think we have further to go towards cost of production and the 5k range.
Over excited bulls may be punished if there is not enough steam o back them up.
Beware of rallys on reducing voluyme and any bearish divergence on hourly timeframes!
One final failed attempt off the local lows to c. 8k would set up the final drop for me and will be a great buying opportunity IMO.
Good luck.
filbfilb
Im not convinced that this is 'the bounce' and think we have further to go towards cost of production and the 5k range.
Over excited bulls may be punished if there is not enough steam o back them up.
Beware of rallys on reducing voluyme and any bearish divergence on hourly timeframes!
One final failed attempt off the local lows to c. 8k would set up the final drop for me and will be a great buying opportunity IMO.
Good luck.
filbfilb
Note
RSI is playing a very important role in this market on the 4 hour chart.When above 60 it represents a short trade opportunity.
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10k coins jus moved in the gox wallet.. blockchain.info/en/address/16rCmCmbuWDhPjWTrpQGaU3EPdZF7MTdUk
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Please ignore the above comment i may have been misled.Note
well woud you believe it Note
That volume profile...Note
keep an eye on thisNote
Hey Traders.This is what im looking for today:
Looks like a temporary bottom has formed with bull div on low timeframes.
The target from this bottom would be the order block around 7k - 7.1k where i will look to re enter a short trade.
Note
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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.