BTC/USDT- correction before halving.
You can see the divergence on the 4 timeframe.
Two four-hour candlesticks indicate correction.
More thoughts below:
The week is unlikely to close badly already, most likely next week we will have the aim to test the level of $10,500, if we do not do it today.
For those who trade by zones, here's the current situation. Above Bull/Bear, the buying zone prevails. Despite the fact that the up trend is obvious, now it is better to remain neutral because of the obvious overheated market. Flying far, fast and without kickbacks in the upper buy zones are a great risk. Since we are close to the annual highs, there is a great potential to break through them. It will be hard to say whether a breakout from the current one or after a slight pullback, so use the stops and put $40-50 behind the zones. The daily range at the given moment is $500, that is, if the price has moved in any direction during the day by $500, the probability of the price continuing is already very low, so do not go into positions at the end of the momentum, but wait for the local correction. Halvning is soon the task of market makers to drive more retailers into longs, but not to let them take profit, which can lead to a sharp collapse, so check for stops!
The bullish mood is in the daytime mood.
After a correction of the impulse, you can pick up the position.
tradingview.com/x/Su1e7uIa/.
Two four-hour candlesticks indicate correction.
More thoughts below:
The week is unlikely to close badly already, most likely next week we will have the aim to test the level of $10,500, if we do not do it today.
For those who trade by zones, here's the current situation. Above Bull/Bear, the buying zone prevails. Despite the fact that the up trend is obvious, now it is better to remain neutral because of the obvious overheated market. Flying far, fast and without kickbacks in the upper buy zones are a great risk. Since we are close to the annual highs, there is a great potential to break through them. It will be hard to say whether a breakout from the current one or after a slight pullback, so use the stops and put $40-50 behind the zones. The daily range at the given moment is $500, that is, if the price has moved in any direction during the day by $500, the probability of the price continuing is already very low, so do not go into positions at the end of the momentum, but wait for the local correction. Halvning is soon the task of market makers to drive more retailers into longs, but not to let them take profit, which can lead to a sharp collapse, so check for stops!
The bullish mood is in the daytime mood.
After a correction of the impulse, you can pick up the position.
tradingview.com/x/Su1e7uIa/.
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.