BTC USDT 1h - looking to enter long on retracement
There was a fake break of descending channel the other day, which I'm sure gave quite a scare to the market at that point, but also lured quite some short sellers to enter positions in that region - tough luck, as we saw immediate climb back into our channel.
Currently we are testing upper resistance, looking for a breakthrough and time to long.
We can see bearish divergence forming on RSI and MFI, which says to me that we will likely retrace into a small local correction, before price action continues up.
All 👀 are now on possible break. But weekend is coming up, soooo... Let's wait and see how today plays out!
Currently we are testing upper resistance, looking for a breakthrough and time to long.
We can see bearish divergence forming on RSI and MFI, which says to me that we will likely retrace into a small local correction, before price action continues up.
All 👀 are now on possible break. But weekend is coming up, soooo... Let's wait and see how today plays out!
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