Move To Alt Cryptos or Cash as Bitcoin looks ready to pullback heavy
Bitcoin Daily Stochastic RSI peaked
Looking for Bitcoin to have a healthy pullback, first target $3600. 38.1% fib retraces have consistently hit in bitcoin rallies. Viewing what is know as a blow off top with bearish confirmation on todays candle stick.
Intraday 1hour view
Stochastic RSI entering downtrend - Large volume on current candle stick with 30ema crossing below 68ema. Dip buyers would have to step in heavy here.
TRADE: Set stop loss on BTC or enter an alt currency such as ETHBTC XMRBTC LTCBTC ZECBTC (play stalwarts for liquidity).
Alternative: Stoploss set for you to go to cash. Losing 4k will create fear in BTCUSD trade.
Risk Trade: Short if broker allows, use tight stops, monitor until downward momentum takes hold.
Follow at your own risk, Not a financial adviser, understand the risks associated with trading and investing. Manage your own Risk - in other words you could lose it all and I could give a fuck.
