Hi friends,
In today's analysis we are paying attention to BTC chart in 4 hours time frame.
As you can see that we have an uptrend 4H Channel which also it was a pullback to the a strong broken trend line but as the price action indicates the up move is quit weak.
Now we are reaching the bottom line of the channel also as marked on the chart the $83,650 level is a key local support that if the channel broke from bottom and completes it's pull back it becomes good level for shorting BTC.
Meanwhile if we pay attention to BTC dominance (BTC.D) chart we can see that BTC dominance is getting stronger, So shorting altcoins will be better and create the better results.
Also we have a strong accumulation area from $72,000 to $76,000.
In today's analysis we are paying attention to BTC chart in 4 hours time frame.
As you can see that we have an uptrend 4H Channel which also it was a pullback to the a strong broken trend line but as the price action indicates the up move is quit weak.
Now we are reaching the bottom line of the channel also as marked on the chart the $83,650 level is a key local support that if the channel broke from bottom and completes it's pull back it becomes good level for shorting BTC.
Meanwhile if we pay attention to BTC dominance (BTC.D) chart we can see that BTC dominance is getting stronger, So shorting altcoins will be better and create the better results.
Also we have a strong accumulation area from $72,000 to $76,000.
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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.
Related publications
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.