Bitcoin and Alts are showing strength.
However, I am considering a rejection here, as i am seeing signs of needing a momentum reset.
- Daily and Weekly RSIs are looking good.
- 4H is totally exhausted on both the RSI and Stochastic RSI
- Daily is overbought on the Stochastic RSI
- 1H has had RSI Bearish Divergence since $114k.
3 possible pullback scenarios:
1. GREEN - S/R Retest at $116.5k (Shallow Wave 2 retracement)
2. ORANGE - Deeper Wave 2 retracement to the CME Gap at $110k
3. RED - Sweep range low and flush out all the leveraged longs before a breakout into new highs.
DIP WILL BE BUYING OPPURTUNITY.
