BTC 4 hour - Caution and Prepare
This Chart is going to explain the higher possibility of the downswing and it's percentage movement. There is a lot of information to discuss.
First I will break down what your staring at: 4 sections, from top to bottom
#1 Price chart
#2 MAC'd indicator with momentum trend bars (MACD is the Heavy Yellow Line)
#3 God Mode indicator
#4 RSI/Stoch/MFI indicator (RSI is the Heavy Dk Blue Line) and (the Top Blue colored bar shows where the oversold level starts for that RSI line)
I have add in --- Divergence lines and yellow ovals.
// Divergence in Play - Bearish \\
Currently price is under a 4 hour bearish-divergence shown with the Red Lines and Red Text to match shown in windows: Price-MACD-RSI
I also drew in Green Lines just in case price decides to booster upwards towards the brown Fib 1.618 @ $ 8,100.. at which time that occurs, "a big IF" then the divergence is negated. IF this happens look towards the Daily as there would be a Bearish-Divergence with price point around Oct 27.
// Downswing @ 10 % - Estimated \\
Here I have Yellow ovals across all windows lined up.. There are two previous examples and the last third one is where price is currently. 4 hour indicators are typically accurate and to be respected. Along with the #1 price chart window I have shown at each incident a 10 % completed movement in relationship to the Yellow Ovals and the effects of all indicators max out in the overbought areas... I do have the last oval's % gaged at a higher region as to show if price did move up it will still need to drop down 10%, and/or.. that price could just fall 7% from where it is now to that Fib down below.
Good Luck Trading
PM me for the newest indicator releases and the newest updates are not posted yet ... as the ones I'm using are under construction. The God Mode 3.2 is available. The other two are mine I have created.
First I will break down what your staring at: 4 sections, from top to bottom
#1 Price chart
#2 MAC'd indicator with momentum trend bars (MACD is the Heavy Yellow Line)
#3 God Mode indicator
#4 RSI/Stoch/MFI indicator (RSI is the Heavy Dk Blue Line) and (the Top Blue colored bar shows where the oversold level starts for that RSI line)
I have add in --- Divergence lines and yellow ovals.
// Divergence in Play - Bearish \\
Currently price is under a 4 hour bearish-divergence shown with the Red Lines and Red Text to match shown in windows: Price-MACD-RSI
I also drew in Green Lines just in case price decides to booster upwards towards the brown Fib 1.618 @ $ 8,100.. at which time that occurs, "a big IF" then the divergence is negated. IF this happens look towards the Daily as there would be a Bearish-Divergence with price point around Oct 27.
// Downswing @ 10 % - Estimated \\
Here I have Yellow ovals across all windows lined up.. There are two previous examples and the last third one is where price is currently. 4 hour indicators are typically accurate and to be respected. Along with the #1 price chart window I have shown at each incident a 10 % completed movement in relationship to the Yellow Ovals and the effects of all indicators max out in the overbought areas... I do have the last oval's % gaged at a higher region as to show if price did move up it will still need to drop down 10%, and/or.. that price could just fall 7% from where it is now to that Fib down below.
Good Luck Trading
PM me for the newest indicator releases and the newest updates are not posted yet ... as the ones I'm using are under construction. The God Mode 3.2 is available. The other two are mine I have created.
Note
Here is the 1 hour chart and the respected higher Fib Brown 1.618 @ $ 8,100.. where price could still FOMO in to this area. Note
Price got to $ 8,442 an extra 4.25% more after passing the brown Fib 1.618 @ $ 8,100. Now the indicators need relief as the overbought values got extremely high.Comedy picture included.
here's the update on the 4 hour...the solid 10% drop puts price @ 7591. a good place to take some intermediate profits, and revisit indicator movements. Expect volatility to increase as the market shifts around investment strategies. Expect 3% - 6% swings in either direction as price works its way downwards. The MAC'd indicator shows it crossing the slower signal line, a solid confidence builder for the downside also. God Mode is max'd as well as the bottom RSI/stoch/MFI indicators. Look forward to a further downside then 10%...just a gut feel.
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.