BTC = whats next in store?
Updated
As we have seen BTC slowly climbing upwards since past 2 weeks. There has been some pullbacks.
Whats happening now is a pullback for the next step forward unless some bad fundamentals pop up
BTC price has formed a higher low on 4hr chart whereas RSI has formed a lower low = follow the orange arrows.
This is a bullish divergence.
Earlier on there was a bearish divergence which was suggestive of a correction.
Ichimuko TA
As you can see, price is resting at the bottom of kumo cloud
Price bounced off 0.5 fib support level.
It can test the 6750$ mark again which has been acting as a resistance for a while now
Whats happening now is a pullback for the next step forward unless some bad fundamentals pop up
BTC price has formed a higher low on 4hr chart whereas RSI has formed a lower low = follow the orange arrows.
This is a bullish divergence.
Earlier on there was a bearish divergence which was suggestive of a correction.
Ichimuko TA
As you can see, price is resting at the bottom of kumo cloud
Price bounced off 0.5 fib support level.
It can test the 6750$ mark again which has been acting as a resistance for a while now
Note
As you can see here, the body of candles are still closing above or at the cloud with occasional wicks falling beneath it. So 4 hr chart is looking positive.
Note
Daily chart1 day chart is not as positive.
Yesterday we saw a very strong bearish candle.
Sellers had a very strong day but it still closed above the support.
Horizontal blue lines are support n resistances.
on oscillator we see it making a higher high whereas price made a lower high
A bearish divergence was clear.
Have to see todays candle before making the next call.
Anyone taking up a long here should have a tight stop loss just below the support.
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.