#Bitcoin must retrace
WEEKLY:
- Bitcoin is making on the weekly TF a hidden bullish divergence and is landed in an order block
- If we take a bigger view of the weekly and we draw a Dynamic Resistance line from body to body, not body to wick, then we see that 9420 is an important level of resistance.
-
Daily
- Daily candle is making a Bearish Harami
Bearish Harami conditions:
• Uptrend market
• Big Bullish candle
• Small Bearish Candle
• A Bearish candle close above 50% real body ==> we've to wait
If these conditions are true, a retracement could be in place
4 HOUR
- Bitcoin is ranging on the Dynamic Resistance level
- A descending triangle is forming
-
Conclusion
We have to wait until it retraces before we can say more
- Bitcoin is making on the weekly TF a hidden bullish divergence and is landed in an order block
- If we take a bigger view of the weekly and we draw a Dynamic Resistance line from body to body, not body to wick, then we see that 9420 is an important level of resistance.
-
Daily
- Daily candle is making a Bearish Harami
Bearish Harami conditions:
• Uptrend market
• Big Bullish candle
• Small Bearish Candle
• A Bearish candle close above 50% real body ==> we've to wait
If these conditions are true, a retracement could be in place
4 HOUR
- Bitcoin is ranging on the Dynamic Resistance level
- A descending triangle is forming
-
Conclusion
We have to wait until it retraces before we can say more
Note
Correction:...we see that 9420 is an important level of resistance, must be 9470.
UPDATE: #Bitcoin can make new #BullFlag
Note
I'm keeping an eye on the 9200$ level - it would be good to see an S/R flip here.Note
We're still in a #BullFlag
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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.