Pivot setup on H3
Reasoning:
_Choppy market with no clear direction (market is in bear mode).
_Bearish Divergence (diminishing bullish momentum) [UO]
_Overbought (change of pullback) [STOCHRSI]
_Swing highs in time range
Reasoning:
_Choppy market with no clear direction (market is in bear mode).
_Bearish Divergence (diminishing bullish momentum) [UO]
_Overbought (change of pullback) [STOCHRSI]
_Swing highs in time range
Trade active
Trade started promising, but Bitcoin again made a strong upward movement. I am still in the trade, but I am no longer confident of success.Trade closed: stop reached
This trade was not worth the effort (and the presentation here)
If it is goes above H4 (green Pivot), this will become a possible long entry.
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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.