We are continually in down trending channel since ATH.
Price finds support at the bottom of it.
Looks like accumulation zone on small volume since 3 Dec. Before move up we need to get to buying climax with long wicks on the downside on high volume.
RSI and OBV create bullish divergence with the price indicating short term move up.
Most likely in the next couple of days we will either see creation of another bottom at around 48k and move up or gradual move down to around 43-44k zone.
If the price breaks through 50k level it's likely that we will see rapid move up to 52.5k level since there is volume gap shown on VPVR.
Price finds support at the bottom of it.
Looks like accumulation zone on small volume since 3 Dec. Before move up we need to get to buying climax with long wicks on the downside on high volume.
RSI and OBV create bullish divergence with the price indicating short term move up.
Most likely in the next couple of days we will either see creation of another bottom at around 48k and move up or gradual move down to around 43-44k zone.
If the price breaks through 50k level it's likely that we will see rapid move up to 52.5k level since there is volume gap shown on VPVR.
Trade closed: target reached
Analysis valid. Continued on the BTC outlook 12/12
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.
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.