Bitcoin - sell on 4H - take profit time!
Updated
Dear traders and followers,
welcome to today's Bitcoin market update!
The Bitcoin price moves within an ascending wedge and is likely to make a break down in the next days.
RSI indicator confirms this idea with a clear bearish divergence on the 4 hour chart.
The price moves up but the RSI baseline moves down since 9th of Febr.
This is an indicator for an incoming correction movement.
Looking for good short order entry at 51500-52000$ area because the market will make first an
new high to liquidate small short positions and get the fuel for the incoming correction move.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date/ don't miss new ideas
Thanks for your support!
welcome to today's Bitcoin market update!
The Bitcoin price moves within an ascending wedge and is likely to make a break down in the next days.
RSI indicator confirms this idea with a clear bearish divergence on the 4 hour chart.
The price moves up but the RSI baseline moves down since 9th of Febr.
This is an indicator for an incoming correction movement.
Looking for good short order entry at 51500-52000$ area because the market will make first an
new high to liquidate small short positions and get the fuel for the incoming correction move.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date/ don't miss new ideas
Thanks for your support!
Note
price reached the analysed area near 52.000 $. Big seller enter the market right now.Note
Market need to go into sideways from current price level while the RSI moves down otherwise another breakout is incomingNote
Order cancelled
short trade cancelled - Bitcoin just made another high and doesn't went into sideways movement as mentionedNote
here we go. Later than expected but 40K is not far away 
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
Related publications
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.