Hy fellow traders greetings from team trading the tides. lets discuss bitcoin which is inside a broadening top pattern , if it breaks the pattern top it can reach up to the value of 32k but right now on 1 day tf as the spx and dow gives a good rally but the btc price has no effect considering the different market situations , i am waiting for the upcoming major news and my second thought is to wait till it reaches the resistance line so we can think about initiating short .
in addition the rsi is almost touching overbought area and if btc price touches the resistance then rsi would be totally oversold other than rsi i am also lookin for divergences or something to initiate short .
thanks a lot .
Trade attivo
if btc reaches 32k area which is also the resistance area of the broadening wedge then rsi would be touch completely overbought regions !
Commento
the idea is still intact , shorts are already running
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