BTC/USD-4 Hour analysis
Hello everybody!
-On a 4-hour time frame, we can see that the price tested both support lines, yellow and green support lines.
-The green support line is a support line of ascending channel and the yellow support line is strong horizontal support, I consider yellow support as strong support because there we had lot of rejections and retests.
-In the past days, we can see that the price tested multiple times both support lines and then the price made a rejection.
-On a lower time frame such as s 1 hour, we can see that the price went bearish at noon and until a few hours before now, we can see strong rejections candles(candles with long wicks).
In my opinion, this is a solid opportunity to go long because retested multiple times support lines and then rejected,...-But that is just my opinion!
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 4-hour time frame, we can see that the price tested both support lines, yellow and green support lines.
-The green support line is a support line of ascending channel and the yellow support line is strong horizontal support, I consider yellow support as strong support because there we had lot of rejections and retests.
-In the past days, we can see that the price tested multiple times both support lines and then the price made a rejection.
-On a lower time frame such as s 1 hour, we can see that the price went bearish at noon and until a few hours before now, we can see strong rejections candles(candles with long wicks).
In my opinion, this is a solid opportunity to go long because retested multiple times support lines and then rejected,...-But that is just my opinion!
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
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.
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.