BTCUSDT
is below the 29000 as of now. It has not closed below 29000 on daily candles since June 20th this year.
There is a clear RSI divergence indicating weakness in the movements of the last 2 months.
If today's daily candle closes below 29000, it is very possible that price will keep dropping in the upcoming days. In that case, I will be entering a short trade and aim to the orange trendline, the 200 SMA level, maybe even the area below 26350 on my chart.
There is a clear RSI divergence indicating weakness in the movements of the last 2 months.
If today's daily candle closes below 29000, it is very possible that price will keep dropping in the upcoming days. In that case, I will be entering a short trade and aim to the orange trendline, the 200 SMA level, maybe even the area below 26350 on my chart.
I entered short, a bit late at 28455 and sold at 26026, making a 93.36% ROI.
If price keeps dropping, my next key levels are 25000, 24385, 21500, and 19588.