Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

Bitcoin (BTCUSD) Analysis and Sell Trade Explained - 11 June 2024 #trading #forextrading #bitcoin

11 Jun 2024 · 1 min

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Vladimir Ribakov identifies a bearish channel on Bitcoin's daily chart with MACD divergence and broken trendlines across multiple timeframes. His strategy is to sell rallies into resistance on the 1-hour chart, shorting pullbacks as long as that level holds.

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Hello traders, Vladimir here from Home Trader Club. Is it time to sell the Bitcoin? Let's take a look on the chart. Daily chart is moving inside a bearish channel. We can start to see a formation of lower highs, lower lows, and it starts to build a bearish channel. On a daily chart, we also see bearish divergence. Last higher highs on the chart are contradicted by lower highs on the MACD. The last 4-hour chart trendline is broken down. The last 1-hour chart trendline is broken down as well. Double timeframe trendline breakout. On the 1-hour chart, we can see a strong resistance. My plan, as long as this resistance holds, sell the rallies is my trading plan. Join Home Trader Club for complete trading courses, real-time trading education, and real-time trading opportunities.