Back to 6200$
BTC -0.75% is breaking the red triangle we see in the chart.
RSI is high on the 4h timeframe. Last time it was so high (early May), BTC -0.75% felt consequently.
First target price: 6200$
Another sign that makes me bearish is the trend of long positions on Bitfinex (see below). It is increasing more than reasonably while the price of BTC -0.75% will not make it sustainable to hold and I suspect people will close their position to limit their loses. I guess a squeeze is highly possible.
RSI is high on the 4h timeframe. Last time it was so high (early May), BTC -0.75% felt consequently.
First target price: 6200$
Another sign that makes me bearish is the trend of long positions on Bitfinex (see below). It is increasing more than reasonably while the price of BTC -0.75% will not make it sustainable to hold and I suspect people will close their position to limit their loses. I guess a squeeze is highly possible.
Note
Target achieved. A bit later than expected but achieved.IMO BTC will continue falling.
We see now a Head & Shoulders pattern with a target price at 5900$
Trade fermée: cible de profit atteinte
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.