So
BTCUSD
blasted through a fib line and 10K without blinking. However, the 200EMA is looking like strong resistance having already been tested twice. RSI is looking over bought and MACD is looking bearish on the 4 hour chart, it's starting to smell like a short term bull trap. It would be healthy to have a retrace here, but how far? 50MA looks like a candidate, which would be around 8500. If that failed to hold then we're back in serious bear territory..
I bought in at 7000, and I'm now thinking about selling here and buying back in after the reversal.
BTCUSD
blasted through a fib line and 10K without blinking. However, the 200EMA is looking like strong resistance having already been tested twice. RSI is looking over bought and MACD is looking bearish on the 4 hour chart, it's starting to smell like a short term bull trap. It would be healthy to have a retrace here, but how far? 50MA looks like a candidate, which would be around 8500. If that failed to hold then we're back in serious bear territory.. I bought in at 7000, and I'm now thinking about selling here and buying back in after the reversal.