How are we everyone
Bit of movement with BTC over the course of last night & this morning.
Currently looking at this Supply level pretty critically at the moment. Right now, we're still at the top of this run from 3-5k, our homegrown Streamroller indicator has been giving us overbought and exhausted indications of this trend, alongside the RSI & CCI indicators looking like they are forming a bearish divergence.
I'm not discounting the fact that there is every possibility that we can get to 10k again and above, in fact we are very close to 10k already. But I'm not discounting the fact that we could be in a potential bull trap scenario, with a lot of confluence on the indicators suggesting a topped out move right now, hence this declining volume.
What I'm also seeing, is overall bullish market sentiment, especially on twitter and Tradingview itself.
Stay composed, draw your own TA and come to your own conclusion.
I'm looking towards this Supply Zone if we continue to crawl up, but I'm largely expecting more downside movement, but planning for BOTH.
Bit of movement with BTC over the course of last night & this morning.
Currently looking at this Supply level pretty critically at the moment. Right now, we're still at the top of this run from 3-5k, our homegrown Streamroller indicator has been giving us overbought and exhausted indications of this trend, alongside the RSI & CCI indicators looking like they are forming a bearish divergence.
I'm not discounting the fact that there is every possibility that we can get to 10k again and above, in fact we are very close to 10k already. But I'm not discounting the fact that we could be in a potential bull trap scenario, with a lot of confluence on the indicators suggesting a topped out move right now, hence this declining volume.
What I'm also seeing, is overall bullish market sentiment, especially on twitter and Tradingview itself.
Stay composed, draw your own TA and come to your own conclusion.
I'm looking towards this Supply Zone if we continue to crawl up, but I'm largely expecting more downside movement, but planning for BOTH.
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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.
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.