BTC start forming divergence on 4H MACD
BINANCE:BTCSTUSDT
Channels on chart its a key. If we a looking on local 4H situation we can see we are trade in 2 channels. On MACD we start forming like usual 3 bottoms divergence (maid going up, price on chart going down)
Downtrend white channel first support 12 October at 53900 top of this channel 10 November 69000
now we going down and found second touch support 4 December 42600 resistance at middle line white channel at 51700
now we have to find support at 46800 (higher low) 12-13 December and once again retest 0.5 level by fib since May
17 December going over middle line white channel 52700 and trade above with retest local fib downtrend line (dot lines) around 22 December we will touch 58700 (0.781 level by fib since May) and top of white downside channel. Then we will see if we reject price going to official bear market if we are breaking out we make a continuation and cycle will be longer than everyone expect. In this case you can check my previews idea about global BITCOIN moves since 2020.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
Don't forget sub and join my channels under this idea!
Channels on chart its a key. If we a looking on local 4H situation we can see we are trade in 2 channels. On MACD we start forming like usual 3 bottoms divergence (maid going up, price on chart going down)
Downtrend white channel first support 12 October at 53900 top of this channel 10 November 69000
now we going down and found second touch support 4 December 42600 resistance at middle line white channel at 51700
now we have to find support at 46800 (higher low) 12-13 December and once again retest 0.5 level by fib since May
17 December going over middle line white channel 52700 and trade above with retest local fib downtrend line (dot lines) around 22 December we will touch 58700 (0.781 level by fib since May) and top of white downside channel. Then we will see if we reject price going to official bear market if we are breaking out we make a continuation and cycle will be longer than everyone expect. In this case you can check my previews idea about global BITCOIN moves since 2020.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
Don't forget sub and join my channels under this idea!
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