BTC is approaching the 50K resistance I outlined as a potential rejection / HTF LH formation point two months ago.
It's a daily supply zone, 61.8 of the overall moce down, and daily and 4H resistance levels lie within the area.
Daily candles are showing Bearish divergence on the CCI.
While the move is currently bullish, no news, fundamentals or hype seem to be in the market to cause it. Supporting my thoughts it's just a retracement before the next leg down.
It's a daily supply zone, 61.8 of the overall moce down, and daily and 4H resistance levels lie within the area.
Daily candles are showing Bearish divergence on the CCI.
While the move is currently bullish, no news, fundamentals or hype seem to be in the market to cause it. Supporting my thoughts it's just a retracement before the next leg down.
Trade active:
All entry's filled. I'm not loving it though, I like to see a solid rejection and we're sitting up in the zone.
Daily bearish Div, but if we don't get a bearish engulfing today I'll likely close out.
Daily bearish Div, but if we don't get a bearish engulfing today I'll likely close out.