Bitcoin (XBT) is trading within a descending channel.
- Chart signals are bearish.
- Trend bearish.
There is a bullish divergence with the RSI.
Potential for a reversal in the current zone possible.
Main support $16,500.
Above this level bitcoin can break out of the descending channel and move up (green arrow).
Below $16,500 this analysis is invalidated.
----
4H timeframe
Namaste.
- Chart signals are bearish.
- Trend bearish.
There is a bullish divergence with the RSI.
Potential for a reversal in the current zone possible.
Main support $16,500.
Above this level bitcoin can break out of the descending channel and move up (green arrow).
Below $16,500 this analysis is invalidated.
----
4H timeframe
Namaste.
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🚨 The difference between poor weak signals & PREMIUM trade-numbers lies in results. Stand apart from the crowd. #1 Since 2017. Join now 👉 t.me/lamatrades/4
🎯 LIFETIME Results: t.me/anandatrades/1183
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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.