BTC/USD Trading Analysis (09/06/2024)
The trend is down. The coin is trading within the range of 365 and 135 EMAs. The upward truncated wave structure ended with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator indicates an overbought condition.
Trade idea:
- Sell when the descending wave structure begins to form.
- Stop-loss at 106467.0.
- Price targets are 103740.0 and 101000.0.
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