BITCOIN Is Very Bearish! Short!

7 בנוב׳ 2024

Please, check our technical outlook for BITCOIN.

Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is on a crucial zone of supply 74,723.

The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 64,959 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

Like and subscribe and comment my ideas if you enjoy them!

8 בנוב׳ 2024

הערה

I am confident in this trade so I will keep it open!