JohnNMex

The bulls are losing strength, short until 5280 - 5150

Short
JohnNMex Mis à jour   
BITFINEX:BTCUSD   Bitcoin
The price got rejected at the 0.65 retracement level which is a little bit above the resistance of the rising wedge. If this pivot high holds the first zone for the next pivot low is 5280 - 5150.

Sometime between the 11th and 19th of Sept we expect to see a change in trend direction.
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BB% Bearish Divergence on the daily chart.
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RSI, SRSI, BB% Bearish Divergence on the 8H chart.
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The 4H chart shows bearish divergence between the last lows. We have a lot of signs that are telling us the bulls are getting tired and the bears might regain control soon.
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Breakdown confirmed by volume but watch out for a possible retest of the wedge. If you shorted from 7200-7400 you could put your stop in profit, above the former support of the wedge or if you think that it will make a fake entry in the wedge then put your stop in break even. At this point there is no reason to keep the SL above your entry.

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