Forming head and shoulders pattern which I believe is very likely looking at 4h chart.
Indicators like MACD (-6.183) turned negative after false break out and I believe we need to go lower at least in short term perspective.
RSI was highly overbought and now also normalizing currently at 67.52.
Also drove FIB retracements and if you look at it, we need to retrace to at least 0.382- fib in order to continue this bullish pattern.
Scalping is an option here. For those who are thinking to go long, 3850-3800 could be perfect entry with TP at +-4400$.
Hope you like it!
Goodluck!
BTCUSD
Indicators like MACD (-6.183) turned negative after false break out and I believe we need to go lower at least in short term perspective.
RSI was highly overbought and now also normalizing currently at 67.52.
Also drove FIB retracements and if you look at it, we need to retrace to at least 0.382- fib in order to continue this bullish pattern.
Scalping is an option here. For those who are thinking to go long, 3850-3800 could be perfect entry with TP at +-4400$.
Hope you like it!
Goodluck!
BTCUSD