BTCUSD - Intraday - We look to Sell a break of 45276 (stop at 46651)
Price action has formed a bearish ending wedge formation.
20 1day EMA is at 42000.
A higher correction is expected.
50 4 hour EMA is at 45500.
A break of 45500 is needed to confirm follow through negative momentum.
Trading close to the psychological 50000 level.
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Rallies should be capped by yesterday's high.
Our profit targets will be 41148 and 40128
Resistance: 48200 / 49350 / 50000
Support: 47000 / 46200 / 43800
Price action has formed a bearish ending wedge formation.
20 1day EMA is at 42000.
A higher correction is expected.
50 4 hour EMA is at 45500.
A break of 45500 is needed to confirm follow through negative momentum.
Trading close to the psychological 50000 level.
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Rallies should be capped by yesterday's high.
Our profit targets will be 41148 and 40128
Resistance: 48200 / 49350 / 50000
Support: 47000 / 46200 / 43800
Order cancelled:
Trade expired, new trade is released.
