BTC the dying HERO ,, will it breakdown again ??
BTC is tightening in a range again
firstly speaking, we do have some hefty bullish div on large timeframes like 4h , 12h shows bears are losing the momentum they had but the thinning volume aint a good sign
the more sideways here at the support the more worse for BULLS
BULLS need to break the resistance with volume and atleast need to give 4H close and hold above that
okay lets talks about the some important levels
1 . the levels to watch for break UPSIDE
the consolidation at support is a bearish sign and vice versa for resistance
bulls need to give a 4H close above the 4550 with heavy volume and technically speaking , thats not a very strong resistance but its just the
lack of conviction from bulls because rn the fear is too high in the market
we are tightening in a triangle (green) , and break either side will give us the retest of horizontals (cream color lines) .
2. if we break UPSIDE
if we manage to get a 4h close above 4550 level with volume and if bulls manage to hold there for atleast few hours ,, we can easily test the
next resistance level situated at 4750-4850 Range
daily close above those 4800 level will be a very strong signal for bulls , and theres not much resistance to 5100-5200 range then ,, ((yes its
very possible we can retest 6600 levels again from 6800 before moving up to confirm support))
3. if we break DOWN
a daily close below 4000 will be a very bad sign for bulls and the next level to watch after the 4k breakdown is 3700 (monthly 55 ema ) ,, and
the level below that is 2500-3000 range ,, don't believe on the wicks , only trust the closes with volume rn ,
firstly speaking, we do have some hefty bullish div on large timeframes like 4h , 12h shows bears are losing the momentum they had but the thinning volume aint a good sign
the more sideways here at the support the more worse for BULLS
BULLS need to break the resistance with volume and atleast need to give 4H close and hold above that
okay lets talks about the some important levels
1 . the levels to watch for break UPSIDE
the consolidation at support is a bearish sign and vice versa for resistance
bulls need to give a 4H close above the 4550 with heavy volume and technically speaking , thats not a very strong resistance but its just the
lack of conviction from bulls because rn the fear is too high in the market
we are tightening in a triangle (green) , and break either side will give us the retest of horizontals (cream color lines) .
2. if we break UPSIDE
if we manage to get a 4h close above 4550 level with volume and if bulls manage to hold there for atleast few hours ,, we can easily test the
next resistance level situated at 4750-4850 Range
daily close above those 4800 level will be a very strong signal for bulls , and theres not much resistance to 5100-5200 range then ,, ((yes its
very possible we can retest 6600 levels again from 6800 before moving up to confirm support))
3. if we break DOWN
a daily close below 4000 will be a very bad sign for bulls and the next level to watch after the 4k breakdown is 3700 (monthly 55 ema ) ,, and
the level below that is 2500-3000 range ,, don't believe on the wicks , only trust the closes with volume rn ,
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.