Bitcoin against dollar BTC/USD. Is it time to start selling?
Bitcoin gave a huge rise to 5000 and stopped just at Tenkan Sen Ichimoku Resistance, which gives us the opportunity to take advantage of it and get into a short position.
The weekly candle of the Bitcoin (this week is not finished so can change) in the form of Doji that it can be an indication of a change in trend.
The general trend in the weekly and monthly charts is still in a downward trend despite all the recent increases.
The stochastic indicator in the daily graph and in the weekly graph is in the highest maximum area of the range and this is the reason we have here an overbought!
Technical Indicators
Based on all of the points I wrote, I suggest opening a short position with an initial target of 4900 and a secondary target of 4500.
Sell Bitcoin:
Entry Price: 5183
Take Profit 1: 4900
Take profit 2: 4500
Stop Loss: 5300
Relatedanalysis
Disclaimer. This content is for informational and educational purposes only. It does not constitute financial advice, a recommendation, or an offer to buy or sell any security or digital asset. Past performance does not guarantee future results. Cryptocurrency investments are subject to high market risk and volatility.