BTC HTF Analysis: 17200 hedge long
1. Fib extension at 1.618 with this setup. When 0% placed at other levels we are still at a critical level, but not necessarily 1.618.
2. Channel TL resistance @ 16500
3. HTF 2018 resistance @ 16500 - 17200. Beginning to enter supply zone.
Weekly RSI overbought
Daily RSI bearish divergence with move from 13500-16500
Cautiously bullish as we push into supply zone. Looking to hedge at 17200 at max. Trailing stops with all pullbacks as we move up to prevent a dump from eliminating gains.
2. Channel TL resistance @ 16500
3. HTF 2018 resistance @ 16500 - 17200. Beginning to enter supply zone.
Weekly RSI overbought
Daily RSI bearish divergence with move from 13500-16500
Cautiously bullish as we push into supply zone. Looking to hedge at 17200 at max. Trailing stops with all pullbacks as we move up to prevent a dump from eliminating gains.
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