💡Signs of the FALL of Bitcoin(4-hour time frame)💡
Updated
Bitcoin has NOT seen an upward or downward Sharpie movement for about 12 days and is moving in the form of a Range market; this Range movement generally causes the formation of a Rectangle pattern.
Bitcoin is currently moving above the rectangle pattern and the 🔴resistance zone($31,420-$31,220)🔴.
💡Signs💡 of Bitcoin falling again from the resistance zone can be candlestick patterns: Hanging Man, Shooting Star, and Marubozu Candle.
Also, if we look at the RSI indicator, we can see that there is a strong Regular Divergence (RD-) between two consecutive peaks inside the rectangle pattern. In addition, the RSI indicator seems to be issuing one of the most reliable sell signals, the Bearish Failure Swing.👇
🔔I expect Bitcoin to fall to at least the 🟢support zone($29,860-$29,420)🟢 and the bottom of the rectangle pattern after breaking the uptrend line.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Bitcoin is currently moving above the rectangle pattern and the 🔴resistance zone($31,420-$31,220)🔴.
💡Signs💡 of Bitcoin falling again from the resistance zone can be candlestick patterns: Hanging Man, Shooting Star, and Marubozu Candle.
Also, if we look at the RSI indicator, we can see that there is a strong Regular Divergence (RD-) between two consecutive peaks inside the rectangle pattern. In addition, the RSI indicator seems to be issuing one of the most reliable sell signals, the Bearish Failure Swing.👇
🔔I expect Bitcoin to fall to at least the 🟢support zone($29,860-$29,420)🟢 and the bottom of the rectangle pattern after breaking the uptrend line.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
BTC was able to break the uptrend line.Note
It seems that Bitcoin has completed its pullback to the uptrend line and is ready to fall.Note
Bitcoin reacted well to the resistance zone again; if the support line breaks, Bitcoin will fall to the support zone.Trade closed: target reached
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