Bitcoin is in the territory of burning out the last of its fuel on this bull run. With the recent bearish Tenkan/Kijoun cross on the 4H, the slowing momentum on this recent bounce off the upper 0.5 (green) pitchfork line and the lack of strong overall bullish sentiment, price looks like it will return to the lower 0.5 (green) pitchfork line at the 0.618 fib/200 MA/EMA lines around $5800.
Entry: $7200
S.L: $7300
T.P 1: $6400
T.P 2 (long re-entry): $5800
Entry: $7200
S.L: $7300
T.P 1: $6400
T.P 2 (long re-entry): $5800
Trade closed: stop reached
Stopped out on break of upper black line.
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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.