Hi folks!
See my latest posts for more perspective!
I will not take much of your time here, as it is just an update on previous ideas in BTCUSD:
We have had a massive bearish DIV on both RSI, MACD and Volume in almost all asset classes (BTC, major alts, stock indexes etc.) since the very end of july.
Thus, my reasoning applies to those assets as well although posted under DOTUSD.
Consecutive sell signals based on concurrent DIV in RSI and MACD on 4h very often lead to drops far below the first sell signal in the consecutive series.
I believe that the bullish move we saw since yesterday is a bull trap.
We might see a further bounce here, but trading is a probabilistic game and imo the expected value of a short here is tempting
- I just placed a short from 26.71 with SL 31 and TP 17.1.
To be even more sure, a suggestion is to wait until we potentially see a new DIV on the 1h as well on an even higher top - I would add to my position in that case.
DYOR.
NFA.
Never tak the words of others as a given - and do not take advise from anyone without skin in the game.
I wish you all well!
See my latest posts for more perspective!
I will not take much of your time here, as it is just an update on previous ideas in BTCUSD:
We have had a massive bearish DIV on both RSI, MACD and Volume in almost all asset classes (BTC, major alts, stock indexes etc.) since the very end of july.
Thus, my reasoning applies to those assets as well although posted under DOTUSD.
Consecutive sell signals based on concurrent DIV in RSI and MACD on 4h very often lead to drops far below the first sell signal in the consecutive series.
I believe that the bullish move we saw since yesterday is a bull trap.
We might see a further bounce here, but trading is a probabilistic game and imo the expected value of a short here is tempting
- I just placed a short from 26.71 with SL 31 and TP 17.1.
To be even more sure, a suggestion is to wait until we potentially see a new DIV on the 1h as well on an even higher top - I would add to my position in that case.
DYOR.
NFA.
Never tak the words of others as a given - and do not take advise from anyone without skin in the game.
I wish you all well!
