Short

Updated

Correction on a bearish divergence - XBTUSD (1H chart)

We have negative divergence on both the MACD and the RSI on 1 H chart. I also think some consolidation is needed after a sustained uptrend over the last couple of days.

Short area - $7350 - $7425
Target 1 - $7100
Target 2 - $6885
Stop - $7500

Good luck!!!

Note

Target 1 hit!

Note

Move stop to $7255 for the rest of this trade as this is a breakout of a falling wedge currently forming.

Note

Move stop down again to $7150

Also on:

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.

Also on:

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.