Short before the 50k
Updated
After 40 % rally over the three last weeks the probabilities for a good short on BTC are rising.
RSI is over 80 indicating over bought situation, MACD already rised largely and could be cutting the signal line soon.
More over the chart pattern are not favorable for a new pump
NErvetheless patterns indicate that 50k dollars can be reached before the begin of Q2 2021
Trading plan would go as followed
Stop Loss : 47 400
Support : 46 600
Target: 43 000
RSI is over 80 indicating over bought situation, MACD already rised largely and could be cutting the signal line soon.
More over the chart pattern are not favorable for a new pump
NErvetheless patterns indicate that 50k dollars can be reached before the begin of Q2 2021
Trading plan would go as followed
Stop Loss : 47 400
Support : 46 600
Target: 43 000
Trade closed: stop reached
Lost for this 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.