BitcoinUpdated Bitcoin Sellers Losing Steam
As you can see in the chart, the selling has continued to slow since the initial sell off @19.8k
This doesn't mean that Bitcoin cannot go lower, however the trend is indicating that a reversal may be near.
This doesn't mean that Bitcoin cannot go lower, however the trend is indicating that a reversal may be near.
Note
You can also see the selling momentum slowing in this inverse chart.
Trade active
Here we go. Inverted head and shoulders has formed and we're currently at the neckline. Await for the neckline to break and close the day above $6,900 before considering going long. Inverse head and shoulders are actually a bearish pattern as they indicate strong resistance until they are broken. See the full idea here:
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.