Beware the short term rally! Once again BTC has had a nice little rally over the last few days and everyone is getting excited about BTC going to $100K in December, or $135K, $260K or whatever.....and I'm sure we'll see those numbers in time. But hold your horses. We are still current;y in a short term downtrend on the daily chart. Yes, we have had a nice rally but it is weak. I've highlighted some important points on the chart (red circles):
ADX - still very much in the red
RSI - declining
On Balance Volume - negative
These are not the traits of a bullish upswing. Price has rallied up to $60K but failed to break this important level and so there is a good chance we could see a further move down to the $54K level. I'll be placing some buy orders down at this level just in case we see a flash crash down to this stronger area of support.
ADX - still very much in the red
RSI - declining
On Balance Volume - negative
These are not the traits of a bullish upswing. Price has rallied up to $60K but failed to break this important level and so there is a good chance we could see a further move down to the $54K level. I'll be placing some buy orders down at this level just in case we see a flash crash down to this stronger area of support.
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.