Hi,
BTC Still bullish short term.
Higher High have been formed on 4H.
1H Uptrend have been broken down, but not a big deal until BTC break bellow 33900 - 33600.
Even there, it can go a little bit lower(33600-32600), without destroying hope for going to 39000-41000.
This setup can also be seen as a bull trap at 36600. So people may have opened shorts there.
Just above the previous resistance (35500-25000), to the bottom of the range 30000-29000.
If we see the RSI (14) going bellow 50 on the 4H, it will be more likely that the price will go down. Let see at 14h00 or 18h00
BTC Still bullish short term.
Higher High have been formed on 4H.
1H Uptrend have been broken down, but not a big deal until BTC break bellow 33900 - 33600.
Even there, it can go a little bit lower(33600-32600), without destroying hope for going to 39000-41000.
This setup can also be seen as a bull trap at 36600. So people may have opened shorts there.
Just above the previous resistance (35500-25000), to the bottom of the range 30000-29000.
If we see the RSI (14) going bellow 50 on the 4H, it will be more likely that the price will go down. Let see at 14h00 or 18h00
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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.