Deimos3

Deimos3

Greetings traders, as in the title I see RSI divergences on multiple time frames. From weekly to hourly. Also for MACD in some time frames. This doesn't mean that the price won't rise to 50-60K but we could be heading towards an arrest of the bull run and, eventually, a deeper retracement. Just food for thought. Have a nice day! Deimos

Deimos3

My fellow traders, Bitcoin has been surging in the last weeks despite overbought RSI in the long time frames and overconfidence shown by sentiment indicators. As we all know, "What goes up, must come down". Here I propose a possible Head and Shoulder forming on the 4H chart. The H&S will be invalidated if the a candle closes above the 50 MA (in blue) and...

Deimos3

Hello Traders, I believe it is extremely risky to go long at this point. While we did just break resistance in the form of the red dynamic trendline, we are about to hit the bottom of the Ichimoku Cloud at around 9900$ which will no doubt provide at least some resistance. We are approaching halving which will be a moment of high volatility. Trade responsibly and...

Deimos3

My fellow traders, on the weekly chart we can see that we are hovering just above the 50 moving average and just at the bottom of the Ichimoku cloud. While this could constitute a strong support and allow for at least a small bounce, there is a high risk for momentum to carry on to next week due to this strong bearish red candle. If we do break though we could...

Deimos3

My fellow traders, looking at the monthly chart I see two things that lead me to think that we might be facing another period of downtrend in the upcoming months before the halving. 1. Not restricted to the monthly view of course, we have reached the .618 of the Fibonacci retracement from the big bull run of February to June 2019. 2. We hit the bottom of the...