✴️ BTC Update
What the hell's that BTC doing? We've been rejected twice under the 7450, which is pretty bearish, but still no massive drop.
The daily technical situation is still positive while the technical indicators are negative on the 4h horizon. On the 1h timeframe, the WaveTrend has just given a buy signal, which does not rule out a short-term rise.
📈 Trend follower?
Still positive in the daily and negative in the 1h and 4h timeframes.
👉 What to do?
Even if Bitcoin doesn't do much at the moment, our scenarios are ready you know me guys! So we have two big possibilities for action, maybe even three.
The first, Bitcoin breaks the 7500 - 7600 zone and moves far enough away from that level, forms a higher high and retraces. In this case we will open a pullback position.
If the Bitcoin fails to close, at least in 4 hours, with enough space, it will be a false breakout/liquidity grab and therefore a bearish sign. We will open a short position on retest of the 7470s. If the 7200s are broken down, this will also be a great spot to open a short on retest position.
While waiting for either one to break, we'll take our cursor off the trader button and wait for the guys! Have a nice day 😉
What the hell's that BTC doing? We've been rejected twice under the 7450, which is pretty bearish, but still no massive drop.
The daily technical situation is still positive while the technical indicators are negative on the 4h horizon. On the 1h timeframe, the WaveTrend has just given a buy signal, which does not rule out a short-term rise.
📈 Trend follower?
Still positive in the daily and negative in the 1h and 4h timeframes.
👉 What to do?
Even if Bitcoin doesn't do much at the moment, our scenarios are ready you know me guys! So we have two big possibilities for action, maybe even three.
The first, Bitcoin breaks the 7500 - 7600 zone and moves far enough away from that level, forms a higher high and retraces. In this case we will open a pullback position.
If the Bitcoin fails to close, at least in 4 hours, with enough space, it will be a false breakout/liquidity grab and therefore a bearish sign. We will open a short position on retest of the 7470s. If the 7200s are broken down, this will also be a great spot to open a short on retest position.
While waiting for either one to break, we'll take our cursor off the trader button and wait for the guys! Have a nice day 😉