Showing strong bullish momentum over the past few days for Bitcoin a lot of build up over ETF announcements.
In my opinion if ETF does not get approve many investors will be disappointed and you can see sell-off occur.
Currently 2 key resistance is in our way - Down trend line - Fib retracement Golden Pocket
It is still too early to enter any shorts as it would be a counter trend trade + naked short.
Will start to monitor and start to notice for exhaustion.
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4hr time frame, showing first signs of weakness. Usually a double top or break above the zone. Shall monitor closely with rejection at the fib levels.
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Shorted BTC
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was waiting patiently for the double top to form always wait for more confirmation - MACD cross - Bearish divergence - Double top - Decrease volume - Fib retracement (golden pocket zone)
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Back from holiday. Short closed with profit Seems like the perfect fake out with that trend line break with the fib line as the snag
I mean, we're going to do the same waves the same way last time at two 9600 peaks and two 11500.
khaled777
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Do you think a double peak means we haven't found the bottom yet and we'll land down the last bounce we came from at the 5800
mongacoin
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@khaled777, it is possible, still to early to tell. However if we get rejected here it would mean that the downtrend is still intact and we would go lower.
khaled777
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@mongacoin, Thank you for caring, and thank you for your good analysis. I'll wait for your updates.
mongacoin
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@khaled777, happy hunting bro, if you are in a long from the bottom I would just let it ride out and wait for confirmation of end of uptrend.
If you are looking to short I would wait first as well. I rather be a bit late than wrong.
gpo.gov/fdsys/pkg/FR-2018-07-24/html/2018-15768.htm