Bitcoin: Close Longs
Bitcoin all time history index INDEX:BTCUSD
I closed my position last night as I was observing a bearish divergence. What I didn’t see before is that 1Y and 6M Pivots P was hit and price is struggling beneath this point. Repeat, the 1 Year and 6 Months Pivots center line was hit and we’re getting bearish divergence with reversal candlesticks . The 16D chart is the key to Bitcoin right now and the market is in long mode, NOT SHORT MODE. The first chart below is where and why I exited last night and the charts following are higher time frames showing the potential change in market dynamics.
