We are waiting for a break-out to happen. Holding a short position now based on Takashi Bows Autopilot.
After 9 days of consolidation. We notice RSI funneling, which happens before the market can trend upwards or downwards.
Expecting market to move in the next 2 days.
Take Profit: 60%
Stop-Loss: on next Buy signal.
--
Takashi Bows Autopilot is our ultimate...
On a middle term range BTC looks bullish . Price already broke out of the local trend line , RSI is above 50.
In the other hand, local resistance couldn't be tested, we might just have finished the 3rd Wave and will start 4th Wave on the next days.
In the short term (next 2-3 days) price will probably bounce down making a short position look very attractive.
BTC price seems to be consolidating. After hitting strong retacement levels (78.6%), RSI levels are getting higher.
We are waiting to close Short Position and open Long Position after further confirmation.
If support line at $6200 is broken, we endorse the bearish setup and hope to hit next support level at $6000 and $5800 .
Action to be taken when...
Light RSI Bullish Divergence signaling possible reversal on the next hours or day. Will be tightening trailing stop for opened Short Position after more bullish confirmation.
In the other hand, RSI levels are still very low and price will keep going down unless RSI reaches higher high and crosses over RSI 50 soon. Will be keeping trailing stop loose for opened...
