BTCUSD 1d Chart, are we gonna make it through $10500 USD?
Daily perspective trend remains highly bullish, RSI trend line and overall momentum remains strong and structure stands still. We are facing very strong resistance right now at $10500 USD. Pullback to retest MA200 $8000 USD area quite probable. This moment every trader and investor should be cautious, keep their stops in place, and from the other side, got to be ready to join the party when bulls will rush through $10500 USD.
Bitcoin didn't show any sign of weakness from daily perspective yet. EMA 12 stays above EMA 26, and both trending to upside above MA200. As soon as EMA 12 will cross EMA 26 from above, would be the time to look for shorting opportunities. Only the brave ones short Bitcoin, hats off for those who shorting the exact top of the move!
From the other hand RSI 14 (Relative strength index), printed a huge bearish divergence on a daily chart, such divergences on a daily chart are the ones better not to mess with. Even according to mentioned divergence, support on RSI 14 remains strong and trend is bullish. Quite probable we are witnessing early signs of trend reversal. Dear traders and investors be prepared for both scenarios.
**** i doubt we gonna make it from this attempt.
Bitcoin didn't show any sign of weakness from daily perspective yet. EMA 12 stays above EMA 26, and both trending to upside above MA200. As soon as EMA 12 will cross EMA 26 from above, would be the time to look for shorting opportunities. Only the brave ones short Bitcoin, hats off for those who shorting the exact top of the move!
From the other hand RSI 14 (Relative strength index), printed a huge bearish divergence on a daily chart, such divergences on a daily chart are the ones better not to mess with. Even according to mentioned divergence, support on RSI 14 remains strong and trend is bullish. Quite probable we are witnessing early signs of trend reversal. Dear traders and investors be prepared for both scenarios.
**** i doubt we gonna make it from this attempt.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.