Hello Traders,
Bitcoin seems to be bearish according to the following technical reasons:
- First, Its is forming a Bearish wedge formation.
- Second, It is clear that there is a bearish divergence on the RSI indicator.
-Third, it is in downtrend and most probably the bears still will try to push the price down.
Therefore, we recommend to open short if does a bearish candle formation in h4, in case of a bull trap at the 6800 resistance or if it breaks out the bearish wedge.
Please guys, be careful with your money use stops do a good risk management. If you need a piece of advice about risk management and technical analysis you are welcome to follow us on our profile and social medias.
Push like button and put your doubts and critics in the comments.
Bitcoin seems to be bearish according to the following technical reasons:
- First, Its is forming a Bearish wedge formation.
- Second, It is clear that there is a bearish divergence on the RSI indicator.
-Third, it is in downtrend and most probably the bears still will try to push the price down.
Therefore, we recommend to open short if does a bearish candle formation in h4, in case of a bull trap at the 6800 resistance or if it breaks out the bearish wedge.
Please guys, be careful with your money use stops do a good risk management. If you need a piece of advice about risk management and technical analysis you are welcome to follow us on our profile and social medias.
Push like button and put your doubts and critics in the comments.
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