BTCUSDT. Price Falling on APEX (Update)

If it is USEFUL please LIKE and FOLLOW. Just an OPINION.


Hello traders,

Not too much to say,
Price bouncing on solid supports:
a. PoC level of the Volume Profile as support (purple horizontal line) at 61K (range of price most trades since September 2021)
b. Inverted Head and Shoulders neckline, before it was resistance, now it is support. Price reacted nicely at this level.
c. Cradle of Symmetrical Triangle. It seems it is in the process of doing a throwback.

For now our price target is around 78k. The trend is still intact.

Things we don't like. (note: this is not enough to say that the trend has changed).

a. Big sell volume on last candle close.
b. Accumulation distribution below it's EMA13. (aqua and black lines below)
c. Price in all time high. (a bit more risky, but usually most trend reversals fail even if ti is doing new highs).

If in any case it penetrates all those supports we plan to get out and sit it out a bit and look for reentry.

Step by step is the best way, best of best.

Robertus

Comment:

Comment:

Comment: We have a confirmed divergence on the MACD in the daily. Just be careful. We took out two thirds of our positions. Small shake out possible. Here is the complete update.