BTC - FOMC rejected right at the 0.618
Read our recent post to understand the importance of the 0.618 ($28,850) level.
We were watching for a reversal at this key liquidity level and so far we have gotten it. After touching it exactly upon the number being released the sellers came in strong.
What we are looking at is the 1H chart. A few takeaways are the rejection at exactly $28,850, the RSI creating a slight bearish divergence in addition to the rejection at overbought, and finally the break of our green trendline of support.
Happy Trading!
We were watching for a reversal at this key liquidity level and so far we have gotten it. After touching it exactly upon the number being released the sellers came in strong.
What we are looking at is the 1H chart. A few takeaways are the rejection at exactly $28,850, the RSI creating a slight bearish divergence in addition to the rejection at overbought, and finally the break of our green trendline of support.
Happy Trading!
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