Sentiment for long term trend still quite bullish, but indicators needed to cool off. I would not recommend going short, just look for long entries.
Bigger drawbacks for BTC tend to touch 30RSI on daily and we are not quite there yet. Volume on last bounce was weak and is not indicating a trend reversal.
Volume Profile shows support for 27.000 and 24500 levels. Weekly still in overbought area and drawback to these levels would be healthy to let MAs catch up and keep the trend in tact.
Don't try to catch the bottom/top just scale in on the way down.
Keep safe everybody and good luck trading.
Bigger drawbacks for BTC tend to touch 30RSI on daily and we are not quite there yet. Volume on last bounce was weak and is not indicating a trend reversal.
Volume Profile shows support for 27.000 and 24500 levels. Weekly still in overbought area and drawback to these levels would be healthy to let MAs catch up and keep the trend in tact.
Don't try to catch the bottom/top just scale in on the way down.
Keep safe everybody and good luck trading.
