Hello all,
This will be very short update,
We all know BTC is going side ways for last many days. This is serious weakness in the BTC that it is not able make recovery after getting supported from 89 EMA. BTC is also consolidating close to the bottom trend line of the triangle pattern which also conincides with 89 EMA.
Shepherd indicator is also set for short signal on daily, however it is not triggered yet. Also the 0.5 fib is providing support for some time now (red fibs).
My TA is, there is ~85% probability that BTC will dump as we approch this weekend.
There is support zone below from 9673-9350. I will start entering shorts as BTC break the lower trend line/EMA 89.
My main target is the 0.618 fib which is at ~7666 but there are 2 other targets at 8791 and 8213.
I will try to make more detailed TA afterwards.
Chao..
This will be very short update,
We all know BTC is going side ways for last many days. This is serious weakness in the BTC that it is not able make recovery after getting supported from 89 EMA. BTC is also consolidating close to the bottom trend line of the triangle pattern which also conincides with 89 EMA.
Shepherd indicator is also set for short signal on daily, however it is not triggered yet. Also the 0.5 fib is providing support for some time now (red fibs).
My TA is, there is ~85% probability that BTC will dump as we approch this weekend.
There is support zone below from 9673-9350. I will start entering shorts as BTC break the lower trend line/EMA 89.
My main target is the 0.618 fib which is at ~7666 but there are 2 other targets at 8791 and 8213.
I will try to make more detailed TA afterwards.
Chao..
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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.