Hi everyone,
Since the last big dump that took price from 9.5k to 8k, BTC is in an uncertain área.
In short term I have considered two main scenarios, my key line is the big red descending line.
If a daily candle close below the red line (big descending trend line ), I think BTC Price will dump to test the 6800 - 7000K área (0.236 fib). This move will allow to test again the RSI descending line.
If not (red line hold price), a retest of the base of the big triangle it is also posible as we have a big bullish divergence on the 4 hr chart.
Now, I am not taking any position, just waitting for some kind of move. Let´s see during the weekend.
Have a nice weekend.
Regards
Since the last big dump that took price from 9.5k to 8k, BTC is in an uncertain área.
In short term I have considered two main scenarios, my key line is the big red descending line.
If a daily candle close below the red line (big descending trend line ), I think BTC Price will dump to test the 6800 - 7000K área (0.236 fib). This move will allow to test again the RSI descending line.
If not (red line hold price), a retest of the base of the big triangle it is also posible as we have a big bullish divergence on the 4 hr chart.
Now, I am not taking any position, just waitting for some kind of move. Let´s see during the weekend.
Have a nice weekend.
Regards