BTC 4h bearish divergence + resistance = short

Dear all,

I try to remember the hardest Lesson everyday "On green days you look for a sell and on red for a buy".
We had a good series of green...

Here we had a really interesting rally. Compared to other analysis, I don't think we've breached resistance but that we actually touched them.
In case of bullish div at resistance I would go long above. However here we have resistance + bearish divergence = short.

I based targets on previous BTC price action. Last big jump where a bearish divergence finally occured had a 61.8% retracement which in that case here would bring us around $6,700 at max.
That's the highest target of course.


All the Best from the Crypto Space
Alteroc


Not a Financial advise, be a better trader tomorrow than you are today by DYOR
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Zlecenie aktywne:

Confirmed by MACD

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Another view for people who want wicks included on the fib level:

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The RSI does not update on clicking play but this last move created another bearish div on RSI. This smaller one could be the trigger.

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Here is a view published from this daily closing:

Transakcja zakończona: osiągnięto poziom stop:

Indeed stop reached trade close even tho the bearish div is still here