BTC - Retest lower

Good morning traders,

Yesterday I called the top @ 8579, this morning I'm calling for another bottom.


Key Notes:

1) We're overbought on 1,3,4,8,12 hour stochs
2) Momentum indicators are showing the current trend is dying down
3) Bearish divergence is warning us not to buy the next dip.





Anythings of course possible in this crazy market right now, but indicator wise, we're looking downwards.


Best of luck, trade safe, conservative, and wisely.


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액티브 트레이드:

Test lower did not materialize, looking for a test of 9500 zone in the coming hours/days

코멘트:

Divergence on MACD, look for a buy opportunity lower around 8200, if that fails back towards 8k, if BTC is going to break up, it needs to do it in within the next day

코멘트:

This has been invalidated, looks the original chart is still a-go.

BTC been acting crazy, we had our breakout, but as I mentioned on stream we had bearish divergence, just another failed breakout, we should be looking to a re-test much lower towards original zones, and if those don't catch possibly a new low around 5589

코멘트:

Everyone's been all over the place, myself included. My initial instinct yesterday of an upmove was correct, however be very skeptical of continuation, I, and many other traders, feel that a further correction is on the horizon. My money is currently in Ripple, and on the sidelines. Until then, trade safe, wise, and conservatively!