Choppy Bitcoin action. Reversal soon?
Updated
Hello traders,
Looking the 4 hour chart, Bitcoin is trying to go above 1 week long down trend. We had breakout earlier today, and try to confirm blue trendline as support.
Bullish targets are indicated in red based on dynamic volume profile:
1) 8.18K
2) 8.35K
3) 8.55K
If we go below blue trendline, it will most likely re-test 7.7K again. I still want to see Bitcoin dips around 7.5K, which will create daily bullish divergence.
Looking the 4 hour chart, Bitcoin is trying to go above 1 week long down trend. We had breakout earlier today, and try to confirm blue trendline as support.
Bullish targets are indicated in red based on dynamic volume profile:
1) 8.18K
2) 8.35K
3) 8.55K
If we go below blue trendline, it will most likely re-test 7.7K again. I still want to see Bitcoin dips around 7.5K, which will create daily bullish divergence.
Trade closed: target reached
First target reached!
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