BTC in Temporary Trouble ,Secure profits or Update SL to entry.

2월 1일

Previous buy signal from BTC at approx. 41.8k went very well. Reached as high as 43.8k. However, a major sell structure has formed itself on the daily TF in the form of a large head and shoulders pattern. It is a good idea to take profit now or move SL further into profit to secure previous long entries.

I am anticipating a revisit of 40k. Our Daily MACD is also printing a bearish impending signal. It would be wise to let BTC retrace and only take more longs on the next daily engulfing as confirmation to buy again.