Bitcoin correction is not done
Updated
We are looking 4 hour chart. If you take look in short-term it might look the correction is done but when you take a look to the long-term charts you can see we are bottom in the long-term descending channel which means that on a short-term we are likely going to experience pull back somewhere between 11 000$ or 12 000$
Down-tredn will now slow for a while because we can't go below 30 in RSI on the daily chart. 200 SMA is also likely going to make resistance zone to Bitcoin.
I will post some short-term analyses below.
I hope you like this and before you do anything I want to say I am not a professional trader, I might be wrong and this isn't financial advice.
Comments and feedback are greatly appreciated, I will read and answer every comment because they are important to me :)
Down-tredn will now slow for a while because we can't go below 30 in RSI on the daily chart. 200 SMA is also likely going to make resistance zone to Bitcoin.
I will post some short-term analyses below.
I hope you like this and before you do anything I want to say I am not a professional trader, I might be wrong and this isn't financial advice.
Comments and feedback are greatly appreciated, I will read and answer every comment because they are important to me :)
Comment
In 15 minute chart, there are two resistance levels. We are likely going to break the lower one soon, which is marked with the blue arrow.Comment
25 and 50 SMA are now on our side, 15 and 30 min RSIs are making some resistance.Comment
BTC might drop to 7200$Comment
Another possibilityComment
50 SMA just created support levelComment
On a short-term 200 SMA just went to green for a first time in 4 daysComment
Correction.actually it has been on green few times but no more than 30 minutes so we should wait for a confirmation at least one hour.Trade closed manually
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.