2021-10-12 11:16:55
BTC Update #BTC_Update
What's new since the last update my dear community? Well, BTC is still trading around 57200 in a pattern that is becoming more and more worrisome for the upside, at least in the short term.
Indeed, we can observe a bearish divergence between prices and technical indicators under a key resistance level. The trading volume in the previous session was above its average level.
The daily technical situation, although still positive, is starting to show signs of weakening. On a 4h time frame, the indicators are negative.
What should we do?
We are just below a key resistance level. As you know with BTC, anything is possible but it is our duty to go with the odds and that is why a short position can be opened now to aim for a return to 52k.
Then, because the mid-term price action is a sequence of higher highs and higher lows, we will open a long position on 52k. No more than 0.5% risk on each of these positions.
https://www.tradingview.com/x/aArK3lkh/
In the meantime stay safe, I wish you all a great day!
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