BTC overextended!!! DANGER!!!
Hi Guys!
As we see on this 1 D chart on Coinbase, BTC might be forming a new local top and turning down. BTC might test the 200 MA soon, which is currently at 4600 $ areas.
This is my long term outlook for the next several months. I am planning to open a speculative short now or if BTC revisits the 5150 $ areas. My T1 is at about 4600 § areas. If BTC makes a strong bounce from there, then I am planning to open a speculative long.
At the moment all major indicators turning bearish now. Daily and weekly counts are on 9 TDs.
RSI is overbought like crazy.
Let's see...
Happy and safe trading!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
As we see on this 1 D chart on Coinbase, BTC might be forming a new local top and turning down. BTC might test the 200 MA soon, which is currently at 4600 $ areas.
This is my long term outlook for the next several months. I am planning to open a speculative short now or if BTC revisits the 5150 $ areas. My T1 is at about 4600 § areas. If BTC makes a strong bounce from there, then I am planning to open a speculative long.
At the moment all major indicators turning bearish now. Daily and weekly counts are on 9 TDs.
RSI is overbought like crazy.
Let's see...
Happy and safe trading!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
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