This is the first Lower High in Bitcoin High Time Frame history. Notice that we are flattening out up here as well. I am not making predictions here, I am just point this out and going to pay close attention.
I'll be watching this to see which side of this shape BTC ends up closing outside of.
I wonder what you think community? I believe further short term pullback is possible. But this looks interesting long term.
Do not trade idea. Just watching this
Entered trade after the 4hr found support on the bottom trendline in 4hr channel. Bull DIV on 4hr increases chances of bull move bounce. Target is where long term resistance converges with top of this channel around 9k. Tight stop loss below recent lows provides good RR. I believe we may be in longer term bear move, perhaps in a falling wedge. price positions...
Falling wedge to 140 before long term up possible
Not much matters til some of these lines are convincingly broken
When setting the fib at the breakout point and top of the recent bull move, we see price has fully retraced, finding support at the fib 1. However, price is also attracted to the Volume profile point of control ( POC ). Which also just happens to align perfectly with the FIb 1.272 level. it will be interesting to see where price goes should it fall below this...
First Daily Close below this trendline, which it has ridden since beginning of 2019
One possible scenario of current situation and future possibility. This indicates that we hit bottom, which we do not know yet. Times are not exact. Do not use for Trading.
This is a bearish possibility for another leg down using volume and EMA's. Don't trade on this, I'm just using it for reference.