BTC is running out of gas
Hello,
The 1D chart gives us a clear view of where BTC is currently at.
Given the daily RSI divergence, a solid assumption could be made that the bears are getting ready for their aggressive move to prepare for the cold winter.
If we look back to what happened in Spring - we could see a very similar market behavior.
Plus, the volume is not looking good at all at the moment. Therefore, it can be said with confidence, that BTC is running out of gas.
However, BTC will have a small bounce back from the current downtrend just to record new ATH before going downwards to re-visit the 30-40K region.
Based on the information above, the long position of the 3:1 risk ratio (to cover the current support level) is opened.
Not financial advice. Do your research. Trade wisely!
The 1D chart gives us a clear view of where BTC is currently at.
Given the daily RSI divergence, a solid assumption could be made that the bears are getting ready for their aggressive move to prepare for the cold winter.
If we look back to what happened in Spring - we could see a very similar market behavior.
Plus, the volume is not looking good at all at the moment. Therefore, it can be said with confidence, that BTC is running out of gas.
However, BTC will have a small bounce back from the current downtrend just to record new ATH before going downwards to re-visit the 30-40K region.
Based on the information above, the long position of the 3:1 risk ratio (to cover the current support level) is opened.
Not financial advice. Do your research. Trade wisely!
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