After seeing a previous double top and that momentum is decreasing, BTC/USD must push higher or it will have a bigger correction.
IMO, since it has not pushed higher for several days, we are likely to see a much bigger correction.
Weighing the risks, its riskier to go long on btc/usd. I believe we will see a correction to the 200 EMA on the 4 hour, therefore I am short on my idea.
This trade is for shits and giggles. I am actually staying neutral, but I do believe we will see BTC/USD crash through cloud on the 4 hour, to and perhaps past the 200 EMA. ~3400. I believe this will occur over the next couple days or weeks, unless it touches a new ATH.
With that said, RSI and STOCH RSI are approaching oversold for BTC/USD. We could see a bounce, but going sideways after long uptrend usually means DROP/correction. Don't get me wrong, I think BTC/USD will goto $5200, but it needs to correct first.
IMO, since it has not pushed higher for several days, we are likely to see a much bigger correction.
Weighing the risks, its riskier to go long on btc/usd. I believe we will see a correction to the 200 EMA on the 4 hour, therefore I am short on my idea.
This trade is for shits and giggles. I am actually staying neutral, but I do believe we will see BTC/USD crash through cloud on the 4 hour, to and perhaps past the 200 EMA. ~3400. I believe this will occur over the next couple days or weeks, unless it touches a new ATH.
With that said, RSI and STOCH RSI are approaching oversold for BTC/USD. We could see a bounce, but going sideways after long uptrend usually means DROP/correction. Don't get me wrong, I think BTC/USD will goto $5200, but it needs to correct first.