BTCUSD 05/04/2021
It is fully normal for BTC to have retraced at this point since there is a pink short zone and there is a general bull/bear fight around 58K. Good news is that Bitcoin accepted the long signals below and works itself upward. There is a high chance it will retrace again when hitting the pink zone since the subordinary long trend has already weakened. If the doubled blue zone gets crossed, the price could retrace further and will probably bounce off the lower blue zone which would give us an amazing entry in combination with the other signals. I the price successfully crossed the pink zone, there would only be resistances and a trendline holding it away from ATH.
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.