#Bitcoin must retrace
Updated
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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