#BITCOIN - Monthly Engulfing!
Monthly engulfing. This is locally bearish because the start of the new candle should represent correctional movement. Still, globally it's a bullish pattern so I don't recommend you to heavy short BTC.
The priority is correctional, the price should cool off a bit to continue healthy further growth. Most obvious point for a reversal are $8500 and $8000 - perfect spots to go long!
Remember that we are in the uptrend, we don't short here! New lows should be considered as long entries, not targets!
The priority is correctional, the price should cool off a bit to continue healthy further growth. Most obvious point for a reversal are $8500 and $8000 - perfect spots to go long!
Remember that we are in the uptrend, we don't short here! New lows should be considered as long entries, not targets!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.