https://www.tradingview.com/x/4Ue0XClO/
We are still in a uptrend for mid-term. MA pattern is bullish and dynamic trendline acting as a support aren't breaked.
Anyway we see 3 or 4 divergences when price action moves opposite the RSI indicator. That's always a strong warning signal, indipendently from the time-frame used.
Actual prices are below the short MA. So I'll plot a downtrend channel to check how strong the actual correction will be.
The trend is considered negative as long as there is no daily close above both the middleman MA ($50K) and the 38% FIB retracement ($51K). Otherwise prices could go into the $47K area.
I'm Waiting more corrections in the short time-frame. I'm Long in other time-frames.
Watch out: I used BTUSDT Futures on BINANCE for charting so puntual prices could be a little different than the standard charting.
?? Disclosure ?? I wrote this article myself, and it expresses my own opinions. Above ideas is for educational purpose only, it is not intended to be investment advice.
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