Bitcoin: Solid Trend Reversal Signal at ATH
Updated
The price reached ATH, and it is not far from 20 000 resistance.
The market gives us a solid trend reversal signal, which is based on a double bearish divergence. I draw your attention that we get such a bearish signal at the solid resistance zone.
MACD histogram gives us a bearish signal. RSI confirmed the price reversal, and it is bearish as well. If the price breaks SMA50 and the local uptrend line, it will be another solid bearish signal. We will be able to see a downward movement toward 16 000$ and 14 000$ support.
What do you think about such a short trade?
Based on the bearish signals and the price position according to the resistance, we have all rights to short. But also we have to take into consideration that the price is at ATH and we have a lot of emotions in this zone. It means we should be ready to see a movement in any direction.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The market gives us a solid trend reversal signal, which is based on a double bearish divergence. I draw your attention that we get such a bearish signal at the solid resistance zone.
MACD histogram gives us a bearish signal. RSI confirmed the price reversal, and it is bearish as well. If the price breaks SMA50 and the local uptrend line, it will be another solid bearish signal. We will be able to see a downward movement toward 16 000$ and 14 000$ support.
What do you think about such a short trade?
Based on the bearish signals and the price position according to the resistance, we have all rights to short. But also we have to take into consideration that the price is at ATH and we have a lot of emotions in this zone. It means we should be ready to see a movement in any direction.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Note
The part of profit can be fixed, stop orders should be moved to the breakeven! 16 000$ and 14 000$ support will be good for buying opportunities.
Disclaimer
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