Bitcoin / TetherUSUpdated BTC, soon 47k?
Disclamer: I don't recommend anything. I'm sharing my thoughts. All decisions are up to you.
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I do not like the current situation.
The daily chart
looks bad - today's swing low is lower than the previous swing low.
On the 4h chart.
a bounce from the SMA200, it is good
Resistance is near 54.730.
The current 4h chart is neutral for me. And in 20 minutes a new candle will start, and it will start around the resistance area .
The hourly chart
is under the down trend line starting at 58,300.
And as I was writing the text, the hope for growth seen in the hourly chart began to fade.
The fall could reach the 47-48k zone. Resistance I expect around 50800 - 50,000. The first figure is historical, the second is psychological.
After 47 may be 43, but first there should be a rebound.
On Sunday night I was expecting 75k in the next 2 weeks.
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I do not like the current situation.
The daily chart
looks bad - today's swing low is lower than the previous swing low.
On the 4h chart.
a bounce from the SMA200, it is good
Resistance is near 54.730.
The current 4h chart is neutral for me. And in 20 minutes a new candle will start, and it will start around the resistance area .
The hourly chart
is under the down trend line starting at 58,300.
And as I was writing the text, the hope for growth seen in the hourly chart began to fade.
The fall could reach the 47-48k zone. Resistance I expect around 50800 - 50,000. The first figure is historical, the second is psychological.
After 47 may be 43, but first there should be a rebound.
On Sunday night I was expecting 75k in the next 2 weeks.
Note
At the time of the analysis of the 4-hour chart, the green bullish candle trading around 54,750 had 20 minutes left. I was hoping the next one would start from the resistance zone. After 20 minutes it turned into a doji.
Note
I stopped believing in 47 after the failed retest of 50,500. In the next few hours there could be a drop in price. I don't think there will be a big drop, but in some positions I got out to re-enter.
Note
Although this situation is a bit more complicated - the MRI Top, which signals a possible correction in the next 1-4 candles, indicates a candle in consolidation (4 candle with a resistance of about 55k). Consolidation at the top of the move increases the likelihood of an upward move.The situation will become clearer,
- If the candlestick, which has more than 2 hours left, goes up to 56k, it will be swinging high in the move. And then the move down will be more reasonable.
- If that candlestick stays in the area of 54,500-55,000, the probability of a downside movement decreases, and the probability of an upside movement increases.
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