BTC/USD is about to break channel, but weekly shows otherwise
This analysis is not intended to be a piece of financial advice.
BTC/USD is about to break the channel to change the course, but there remains a risk of being overbought between 21.7k and 23k area.
Would be mindful to trace and place limit sell whether it's a bull trap or reverse-course trap.
The indicators are tending to say overbought in a daily trade setup, but the weekly RSI and STOCH point towards an oversold zone for a weekly fresh start, meaning to reverse the course strongly or linger between 1k and 2k profiting to the swingers for a while.
BTC/USD is about to break the channel to change the course, but there remains a risk of being overbought between 21.7k and 23k area.
Would be mindful to trace and place limit sell whether it's a bull trap or reverse-course trap.
The indicators are tending to say overbought in a daily trade setup, but the weekly RSI and STOCH point towards an oversold zone for a weekly fresh start, meaning to reverse the course strongly or linger between 1k and 2k profiting to the swingers for a while.
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