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The Demark signals a probable correction by Bitcoin

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Our expectations: The price is close to the psychological level 4500$, and there is a possibility for a formation of "turtle soup" ("trap for specialists").

The levels are strong and we still have diagonal and horizontal resistances.

DeM Sequential has given a signal 9th and has no breakthrough over the top of the bar. DeM (8) points downwards after reversal above 60 in the overbought zone.

Risky entry close to 4500, SL at 4560.

Alternative scenario: A breakout above $ 4500 will signal a possible new upward movement, and it's good to wait for a closed bar above this level and a test of horizontal resistance breakout.

Trader Nikolay Georgiev

 


 Varchev Traders

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