As Bitcoin had more than a 7% pump over the weekend from our last local floor, I see momentum in BTC starting to thin and I am entering an intra-week short that I may continue to add on as time goes on.
We just popped up over our Keltner Channel and re-entered it. A sing of a reversal
Our momentum indicators, TSI & MACD, are thinning out. By the end of the day or start of tomorrow we could see a potential crossover of both.
Our RSI is screaming overvalued and the MA line is about to be crossed under by the RSI line another bearish sign.
On our 4-hour chart we're about to enter an area where the support and resistance clouds are flipping. In these areas you tend to see large selloffs before support is found within the new cloud.
We're are interacting directly with the 200-day moving average and while we may be able to break above it for a short amount of time we do not have the support to hold the support of 17,400.
We just popped up over our Keltner Channel and re-entered it. A sing of a reversal
Our momentum indicators, TSI & MACD, are thinning out. By the end of the day or start of tomorrow we could see a potential crossover of both.
Our RSI is screaming overvalued and the MA line is about to be crossed under by the RSI line another bearish sign.
On our 4-hour chart we're about to enter an area where the support and resistance clouds are flipping. In these areas you tend to see large selloffs before support is found within the new cloud.
We're are interacting directly with the 200-day moving average and while we may be able to break above it for a short amount of time we do not have the support to hold the support of 17,400.
