BTC 4-hour Timeframe analysis with Price Finder Indicator
4-hour Price Finder contains price well and can provide clues for future price action. Working off of previous idea BTC-Weekly-Timeframe-analysis-with-PhinkTrade-s-Trend-Band (tradingview.com/chart/BTCUSD/c6QfBvGs-BTC-Weekly-Timeframe-analysis-with-PhinkTrade-s-Trend-Band/) we are currently in an uptrend. Playing bearish is a cautionary play so selling BTC is not an option. But shorts with stop loss is perfectly acceptable.
Four hour shows price resisting as BTC begins to trend up. Initial bullish impulse tests the top of the expansion band - this actually is a very good bullish sign. These are confirmed break outs where bulls are in charge and possibility of fakeout (upthrust into distribution) is minimal. In fact this pattern is seen multiple times while the market is in this weekly bullish tear.
As price continues to rise, it loses momentum on each breakout shown in orange indicating one can prepare for a quick short play. Quick gains can be made on each short play as lower bands contain price very well especially because we are in bull trend, take profits quick and prepare for further bull momentum. Using proper stop loss placement, risk can be minimized and you can catch the larger drops. Take your trades. Be quick and don't fool yourself into further downtrend continuation without proper trade management, know when to stop out.
Four hour shows price resisting as BTC begins to trend up. Initial bullish impulse tests the top of the expansion band - this actually is a very good bullish sign. These are confirmed break outs where bulls are in charge and possibility of fakeout (upthrust into distribution) is minimal. In fact this pattern is seen multiple times while the market is in this weekly bullish tear.
As price continues to rise, it loses momentum on each breakout shown in orange indicating one can prepare for a quick short play. Quick gains can be made on each short play as lower bands contain price very well especially because we are in bull trend, take profits quick and prepare for further bull momentum. Using proper stop loss placement, risk can be minimized and you can catch the larger drops. Take your trades. Be quick and don't fool yourself into further downtrend continuation without proper trade management, know when to stop out.
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