Bitcoin trend is seriously at danger. With the huge uncertainity incoming that could result in a bitcoin split and the total chaos, bitcoin has suffered a strong dip, with total lack of bull resistance.
I'm expecting a strong bounce in here, as the Stoch RSI and the RSI both basically gave buy signals. The shape of that 4h bottom candle also suggest a reversal. Closing the next 4h candle above the black dashed level (2325-2330) would support the strong bounce incoming.
The red points lines are my short entries. I will ladder my short entry and sell 20%-30%-30%-20% in each level (2454, 2546, 2644, 2752).
The second black dashed line would be my stop, though i will closely monitor the market in case the stop needs to be changed.
Once filled i would target the 2325 level, the double bottom level, 2135, the pink line at 2040 and ultimately the blue and the fib support from this 3 months parabollic move at 1700 area.
Good luck and trade safe.
I'm expecting a strong bounce in here, as the Stoch RSI and the RSI both basically gave buy signals. The shape of that 4h bottom candle also suggest a reversal. Closing the next 4h candle above the black dashed level (2325-2330) would support the strong bounce incoming.
The red points lines are my short entries. I will ladder my short entry and sell 20%-30%-30%-20% in each level (2454, 2546, 2644, 2752).
The second black dashed line would be my stop, though i will closely monitor the market in case the stop needs to be changed.
Once filled i would target the 2325 level, the double bottom level, 2135, the pink line at 2040 and ultimately the blue and the fib support from this 3 months parabollic move at 1700 area.
Good luck and trade safe.
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To follow my insights and decission on this short consider following this idea
We need a bit more down and we will get to new bear signals: macd and 55,89 EMA bearish crossovers.
We also have the bearish divergence in RSI and the 0.786+0.618 rejection.