alexcrypto
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Has BTC topped? Divergence shows bear turn likely.

BITFINEX:BTCUSD   比特币/美元
Momentum is vaning for this latest BTC rally.

There is strong bearish divergence in multiple indicators and a top has likely been achieved.

Between today / monday we will see price rise a little with the residual momentum that is left, then a short term correction will be likely.

A short can come into play with two entries:

1. Conservative entry
Wait until the 7051 fibonacci line is broken

2. Aggressive entry - (only when confirmed by bearish momentum)
Option 1 enter at the 0.382 fibonacci time line
Option 2 enter at the Cross of the Fibonacci spiral (around 7620 price mark, if reached)

TP 1 - 6733
TP 2 - 6437 (unlikely)

A long play comes into consideration after we reach support price in vision of the Segwit2x fork in the middle of november.

Trade safe.
评论: Trendline broke, we started the descending momentum.
If the bulls don't pick up this lower price levels we will see lowers as per the chart.
评论: Watch out for bull traps on the way..
评论: As expected bounce at the 7051 fibonacci level. After the Segwit2X cancellation let's see how this develops. Signs of topping still there unless we pick another trendline up. I will publish more analysis once more data on the charts is available.

Follow for more.
Thanks ! , do you recommend opening a short buy position for 7600 ?
回复
alexcrypto humanmega
@humanmega, I do not offer trading advice. As per the chart description depends on the momentum at 7600. Keep a good look at volume and momentum indicator around that price.
+1 回复
humanmega alexcrypto
@alexcrypto, Thanks <3
+1 回复
cryptknight humanmega
@humanmega, Shorting the Beast is very very risky. Caution advised.
+2 回复
Thank you. Very clear analysis and labels.
回复
alexcrypto Crypto_Adz
@Crypto_Adz, More than welcome, follow for more like this.
+1 回复
TOP 7500
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@damdamm, It might go slightly beyond 7500 but is difficult to tell..
+2 回复
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