BTC :- 4Hr Chart Analysis
Hi Guys
Bitcoin is now in a major testing zone.We saw a perfect pin bar pattern on the lower time frame charts and have since moved up but have given up those gains soon too.
At the moment a RSI Positive Divergence is taking place and that involves the RSI Falling while Price are not below its previous lows.
Keep in mind such a divergence is of benefit only if BTC picks up substantially from here on.
I have still not turned bearish as we entering support zone territory from 8024-8450 as BTC could turn swifty from here on and confirm the "Higher Low" Formation that we have been speaking about.
Bitcoin is now in a major testing zone.We saw a perfect pin bar pattern on the lower time frame charts and have since moved up but have given up those gains soon too.
At the moment a RSI Positive Divergence is taking place and that involves the RSI Falling while Price are not below its previous lows.
Keep in mind such a divergence is of benefit only if BTC picks up substantially from here on.
I have still not turned bearish as we entering support zone territory from 8024-8450 as BTC could turn swifty from here on and confirm the "Higher Low" Formation that we have been speaking about.
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.