Hey! I am back with another Crypto idea.
This time again looking at Bitcoin.
Bitcoin has broken overall uptrend.
Bitcoin has formed a flag from a move down, which indicates that this current flag has bias to have bearish outcome.
RSI and MACD on 2h time frame are neutral.
EMA's 200 and 50 are in downtrend.
I expect the price to test $10.560 and fall from there to $10.360 and then retest $10.200 level, which would be the least bearish outcome from this flag. If $10.200 falls, $10.000 is expected.
Break above $10.620 could potentialy invalid this leg down.
Good luck!
Tibor
This time again looking at Bitcoin.
Bitcoin has broken overall uptrend.
Bitcoin has formed a flag from a move down, which indicates that this current flag has bias to have bearish outcome.
RSI and MACD on 2h time frame are neutral.
EMA's 200 and 50 are in downtrend.
I expect the price to test $10.560 and fall from there to $10.360 and then retest $10.200 level, which would be the least bearish outcome from this flag. If $10.200 falls, $10.000 is expected.
Break above $10.620 could potentialy invalid this leg down.
Good luck!
Tibor
Trade closed: target reached
Take profit level of $10.220 was reached!
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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.