4hr Ascending Triangle, 4hr Bearish Divergence, Short?!
Hi all,
in the last past hour, the king of crypto tried to break the 200 EMA resistance. However, the first few attempts were not successful.
If you look at some indicators, you will see that the last few days, we had a relative high funding rate. In comparison with the past, you will see, if the funding rate exceeds a value of 0.08/-0.07 over a period of some days, BTC makes a very significant direction change.
Also, I see a bearish div on the 4hr chart and an ascending triangle.
However, these indications might be not strong enough to stop BTC.
Looking for a short position now, until 8,5k-ish.
Let's see how it will play out.
in the last past hour, the king of crypto tried to break the 200 EMA resistance. However, the first few attempts were not successful.
If you look at some indicators, you will see that the last few days, we had a relative high funding rate. In comparison with the past, you will see, if the funding rate exceeds a value of 0.08/-0.07 over a period of some days, BTC makes a very significant direction change.
Also, I see a bearish div on the 4hr chart and an ascending triangle.
However, these indications might be not strong enough to stop BTC.
Looking for a short position now, until 8,5k-ish.
Let's see how it will play out.
Comment:
An additional remark: If the ascending triangle should break down, then I think we will see at least 7,7k-ish
Comment:
closed position. Target of 8,5k reached :-)