#BTC $BTCUSD 4H Update Analysis

On chart is shown a partial of circular support and resistance purple-colored lines.
Support at 6650 and 6550
Resistance at 6850 and 7200

2 PRs:
PR1 trgt = 6605 (reached) (=strong signal) -- further uptrending momentum is likely - failing more than 2 PR failures.
PR2 trgt = 7034.51 (Not yet reached) -- needs more time till proven failed (=avg strength signal w/BearishDiv)
MAs are Positive on price.
RSI wma45 is positive

1 NR: Failed on 4H
1 NR: Still putting negative pressure on 12H frame

Entry made @ 6500 - June 18th
50% position sold ~ 6730 June 20th

placed stop 1: 6525
placed stop 2: 6300

Re-entry @ breakout of 6800 - 6900 zone with valid volume on 4H frame

Odds:
60% Up
40% Dn

Commentaire:

ascending wedge pattern is adding to the negative side. Stop loss tightened.

Trade fermée manuellement:

After checking $xrpusd #xrp (stop at 0.530) and $ethusd #eth (Stop at $520) charts on 30-min frame charts. Both shows NRs with increasing momentum and they weren't neutral-to-positive as $btcusd #btc. they are more negative.

I've already decreased my holdings from 50% to 25% in #xrp and #eth. closed all position in #btc.

Trade fermée: ordre d’arrêt atteint:

Trend has proven failed to continue and expected go further lower. Stop has been hit. Position is liquidated at 6650.