Bitcoin / TetherUSShort
Bitcoin 4H Divergence
Hi all!
As can be seen by yellow lines Bitcoin formed bearish divergence. While price action has not confirmed the downtrend yet, Bitcoin was not able to breach 48.5k resistance as was mentioned in the earlier post.
Unfortunately, can’t link the previous post due not having reputation.
Therefore, there is a possibility to short up to previous support of 47.2k, Fibonacci level at 46.5k or to the strong demand zone marked with a purple rectangular (worst case scenario)
Personally, I’m waiting for a bearish MACD confirmation which may or may not happen. Just a warning, everybody!
THIS IS NOT A FINANCIAL ADVICE.
Happy trading!
As can be seen by yellow lines Bitcoin formed bearish divergence. While price action has not confirmed the downtrend yet, Bitcoin was not able to breach 48.5k resistance as was mentioned in the earlier post.
Unfortunately, can’t link the previous post due not having reputation.
Therefore, there is a possibility to short up to previous support of 47.2k, Fibonacci level at 46.5k or to the strong demand zone marked with a purple rectangular (worst case scenario)
Personally, I’m waiting for a bearish MACD confirmation which may or may not happen. Just a warning, everybody!
THIS IS NOT A FINANCIAL ADVICE.
Happy trading!
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