BitcoinShort
BTC Weekly
Be careful of those perma bull charts! The weekly close is not looking like it's favoring the bulls. Declining volume and strength as a failed high is in the process of confirming, leaves us to believe next week we'll see red. The prior 2019 ATH can not be ignored as to the similar patterns of PA as it to failed to make an ATH.
This can also be seen in the daily chart. We're stretched past the TD9 as the same indicators are showing bearish signs.
If we do happen to push through higher next week, well, my 90% on the sidelines will make good gains. But for now, my 10% short position will be closed on a retest of the 30K area.
This can also be seen in the daily chart. We're stretched past the TD9 as the same indicators are showing bearish signs.
If we do happen to push through higher next week, well, my 90% on the sidelines will make good gains. But for now, my 10% short position will be closed on a retest of the 30K area.
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.