BTC is flirting with the major trend support line. Sellers appear to be exhausted, but we could see a sharp liquidity grab (potentially a fake-out break of the major trend) before continuing higher.
This is a great time to start averaging in, however I'm looking for both Daily and 4-hour divergences before I commit fully to the trade.
This is a great time to start averaging in, however I'm looking for both Daily and 4-hour divergences before I commit fully to the trade.
Note
Once bullish divergence on the daily starts, it can take several days to translate into upward price movement. Patience is key. I'll try and update this idea with an official entry when I see bullish divergence on the 4-hour chart.Note
Bullish divergence on the Daily chart has started. Could certainly move down here as whales go stop-loss hunting. I'm expecting bullish price action by late next week.Note
Bullish divergence on the 4-hour has started. Still some overhead resistance, but this is a great place to start averaging into a BTC long
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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.