Bitcoin Sell Trade Market Exec
Price action is considered at Overbought conditions in both Daily and H4 Timeframes
- Price action is bouncing off the 78% Fibo retracement line
- Aiming for a retracement to the Fibo Extension's 61% or 78%
Fundamental Confluences
- The crypto market space has no new impetus at the moment and is in consolidation mode after the risk-on rallies
- Market sentiment is positive with FED cutting rate, but if FED cut rates, what does it mean? Something is wrong with the markets that the FED needs to cut rate.
- In the view that the risk-on rally is overdone now.
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