Possible change in macro bull trend by the end of this week?

BTC has been on a bull run for the past few months. That candle from 9.4k utterly destroyed any bull hopes i had left.

Currently the 4h has tested the 8.2k resistance which has held well.

The weekly RSI 50 level currently stands broken. If the trend is strong it oughta continue much lower without testing 9.4k again.

Short 8.2k , manage trade on lower time frames for a bit till btc puts some distance from this level.

Ghi chú

A 4h candle closing above 8.3k would invalidate trade idea on the short term, But on the long term candles need to start going above 9.4k. So manage trade at 8.2k-8.3k area.

Ghi chú

A clearer view of the weekly RSI's history. Green is bull market area, red is start of bear market. This could possibly end up start of another bear run depending on where btc closes the weekly.

Ghi chú

Also note that the 4h RSI has some sort of bullish divergence going, so don't be surprised by a rally. Thats why its wise to manage risk at 8.2k based on a 4h candle close at that level. If the 4h takes out 9.4k area, Then this SHORT idea is invalidated. Till then, Look for opportunities to short. Of course this entire idea is written with the assumption btc closes the weekly below 8.2k.

Ghi chú

Temporarily out of short, Waiting to see where this 4h closes.

Ghi chú

Trade idea cancelled close above resistance, price is going higher, current price as i write this is 8285

Đã hủy lệnh

Ghi chú

Not ruling this out a fakeout tbf, If price closes below 8.2k again i might go short, but for now out of all trades.

Ghi chú

Close below 8200 again for me to be bearish. For now out...Cant risk a wick to 8800 here.

Ghi chú

u cud risk a long here. but i am not longing this market at all till it goes above 9.5

Giao dịch đang hoạt động

Not impressed with this break out to be frank. Re-entering short based on the daily close.

Ghi chú

Re entered short at 8270. will manage based on the above idea,(last 4h candle close, and the daily close.)

Đóng lệnh: dừng lỗ

out of trade 8250 for now..Waiting for daily close before entering any position.

Ghi chú

Most important daily level atm.

one-two

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