BTC USD 4H
Updated
I just want to talk about three trend line & bearish divergence.
As you know 4h chart show clear bearish divergence.
Many guys are warning us the drop with this bearish divergence signal & the top location of BTC's trend line and so on.
Anyway, I think BTC is still quite a bullish, so BTC would try to break out the long term & yearly down trend line. I guess.
Now BTC is struggle to keep its short term upward trend line(red dot line).
But it is just a middle of the wedge. So I think that if it is a real correction for the upward, BTC would test its wedge bottom. It's around 0.618 from 5858.6.
BTC would try to keep its another upward trend line(Blue line)
If BTC fall down to the wedge's support, it probably means the signal for the another big drop to 5K or even lower.
In short, keep your SL strictly.
Good luck.
As you know 4h chart show clear bearish divergence.
Many guys are warning us the drop with this bearish divergence signal & the top location of BTC's trend line and so on.
Anyway, I think BTC is still quite a bullish, so BTC would try to break out the long term & yearly down trend line. I guess.
Now BTC is struggle to keep its short term upward trend line(red dot line).
But it is just a middle of the wedge. So I think that if it is a real correction for the upward, BTC would test its wedge bottom. It's around 0.618 from 5858.6.
BTC would try to keep its another upward trend line(Blue line)
If BTC fall down to the wedge's support, it probably means the signal for the another big drop to 5K or even lower.
In short, keep your SL strictly.
Good luck.
Note
Reached 0.618.Note
Let's see it BTC break out the wedge.
Note
Note
Need to time to confirm its direction.
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