BTCUSD ❕ strong support
Bitcoin is moving in a downward channel and has recently consolidated above the lower boundary.
Price is still above liquidity with current moves.
Trading volumes are falling as the price declines.
Volatility has declined.
BTC is seeking to test 50MA as support for the third time on the 4H Timeframe.
The asset successfully tested 200MA on the 1H Timeframe.
Price and RSI have formed a bullish divergence on the 1H Timeframe.
I expect Bitcoin may start next week with a rise, which will occur after it fixes above the support level.
Price is still above liquidity with current moves.
Trading volumes are falling as the price declines.
Volatility has declined.
BTC is seeking to test 50MA as support for the third time on the 4H Timeframe.
The asset successfully tested 200MA on the 1H Timeframe.
Price and RSI have formed a bullish divergence on the 1H Timeframe.
I expect Bitcoin may start next week with a rise, which will occur after it fixes above the support level.
Related publications
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.