BTC Waiting on breakout
Day trading BTC:
Consolidating for its next move. My MACD system is called a short, but has been going back and forth in the chop over the last 24hours. Break of support is a good place to add to a short that is already open, or open one. Target on a short would be 5800-6k. A break back above the resistance just above could show potential for a move to at least 7500. On the bullish side: Stoch RSI shows that a resistance break is possible, and BTC has printed higher highs and higher lows so far on this move from 6k. On the bearish side: CMF shows that money is moving out of BTC, MACD has flattened and started curving down, we are trading back under the top of the red Ichi cloud and bounced off the top after moving under.
I am shorting and will close if we break resistance or my MACD system calls a long/close of short.
Consolidating for its next move. My MACD system is called a short, but has been going back and forth in the chop over the last 24hours. Break of support is a good place to add to a short that is already open, or open one. Target on a short would be 5800-6k. A break back above the resistance just above could show potential for a move to at least 7500. On the bullish side: Stoch RSI shows that a resistance break is possible, and BTC has printed higher highs and higher lows so far on this move from 6k. On the bearish side: CMF shows that money is moving out of BTC, MACD has flattened and started curving down, we are trading back under the top of the red Ichi cloud and bounced off the top after moving under.
I am shorting and will close if we break resistance or my MACD system calls a long/close of short.
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