Many people want to trade BTC, claiming that it's headed to 10k or that a relief rally to 30k will come. There is no edge, no implied strength, and even not that much weakness, a trade in either direction with a stop loss will probably get wiped out.
However, if one was to look at the chart there are a few things that are evident:
- Bullish divergence developing after a failed breakdown and bearish divergence that played out in a very weak manner.
- Three consecutive marginal lower lows holding support again implying accumulation and seller exhaustion.
- And lastly the breaking of a downward-sloping trendline that has acted as resistance on 5 different occasions.
During a normal market, I would be longing and would be extremely bullish. However, this is not a normal market and during a bear market, the chances of this playing out are extremely low. The next few days will be to see if the trendline break is key.
Stay posted as I WILL UPDATE AND TAKE A TRADE IN THE NEXT FEW DAYS.
However, if one was to look at the chart there are a few things that are evident:
- Bullish divergence developing after a failed breakdown and bearish divergence that played out in a very weak manner.
- Three consecutive marginal lower lows holding support again implying accumulation and seller exhaustion.
- And lastly the breaking of a downward-sloping trendline that has acted as resistance on 5 different occasions.
During a normal market, I would be longing and would be extremely bullish. However, this is not a normal market and during a bear market, the chances of this playing out are extremely low. The next few days will be to see if the trendline break is key.
Stay posted as I WILL UPDATE AND TAKE A TRADE IN THE NEXT FEW DAYS.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.