The upside for bitcoin looks to be running out of steam. With a strong divergence on RSI and a wave count that favors downside impulsive move, it looks as though bitcoin - at least for today will see lower pricing. If the immediate swing low doesn't hold, we could likely assumed a wxyxz pattern will not hold and that these are all impulsive waves to the downside; which looks to be the most likely scenario here.
I wouldn't want to assume that bitcoin has started a bullish reversal as of yet. Let this range play out some more since several bitcoin brokers disagree on the pricing of the last big down move towards 18k.
Stick with a conservative bearish bias, knowing if we make a new high in the short term - it's likely limited. Then take it day by day for when price moves lower, because medium term (1-2 weeks) pricing could create new yearly lows, but it likely won't be long lived either. Long-term i am bullish, short to medium term i am bearish - due to wave counts and rsi.
I wouldn't want to assume that bitcoin has started a bullish reversal as of yet. Let this range play out some more since several bitcoin brokers disagree on the pricing of the last big down move towards 18k.
Stick with a conservative bearish bias, knowing if we make a new high in the short term - it's likely limited. Then take it day by day for when price moves lower, because medium term (1-2 weeks) pricing could create new yearly lows, but it likely won't be long lived either. Long-term i am bullish, short to medium term i am bearish - due to wave counts and rsi.
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long got taken out at breakeven. But there may be another opportunity here for price to give up as long as it gives confirmation.Note
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trade at breakevenNote
Price reached upside target. Very possible it stays strong, so wait for confirmation for short
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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.