Bitcoin looking extremely heavy at these levels. With world news around COVID-19, the resolution of US elections and a bottoming US dollar index (DXY) in play - are the BTC bulls still confident to step in here and buy? Technically, I'm doubtful.
Technical reasons for the trade:
→ Divergences in OBV, RSI and volume
→ 50% Retracement lines up with VPVR support (top of value) and the 0.786 fib
→ M top in price
→ VPVR void below presents some juicy liquidity for hungry bears
Good luck!
Hit the LIKE button if you find my analysis valuable and want to support me. Follow to make sure you don't miss any future trade ideas.
Technical reasons for the trade:
→ Divergences in OBV, RSI and volume
→ 50% Retracement lines up with VPVR support (top of value) and the 0.786 fib
→ M top in price
→ VPVR void below presents some juicy liquidity for hungry bears
Good luck!
Hit the LIKE button if you find my analysis valuable and want to support me. Follow to make sure you don't miss any future trade ideas.
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Couldn't have been more wrong! :D