Hello all, I want to give the update of current bitcoin's condition especially from the intraday perspective. In this analysis I want to give more highlight on the 4 hours chart which showed us a crucial sign.
Talking about the crucial factor that may affect the price of the bitcoin, the most important factor on this 4 hours chart that is just the basic of the chart is that we haven't seen any sign of the bearish divergence especially in the RSI which I use this indicator as a very important indicator to show me the first ever sign at the upcoming potential bearish moves. Here we can see, if we compare the price with the RSI moves, we haven't seen any act of higher high on the price and lower high on the RSI. We may see this in the upcoming moves.
The 2nd most important thing that the yellow region may become the strong support zone during this scenario. The range of this yellow region may between the $6800 -$6600 region. A lot of price action has occured around this area in the last 1 month. Beside, there might be an action of breaking out of the white resistance trend line at current condition.
If those condition above is true, we might see the delay of bearish moves with the price might have a test toward the next resistance area before it continue the downside movement. For short term, I can see a potential moves higher to the white region which is the golden pocket zone but for the longer term, I'm still on my current bearish bias with potential target toward $3000 or lower.
Talking about the crucial factor that may affect the price of the bitcoin, the most important factor on this 4 hours chart that is just the basic of the chart is that we haven't seen any sign of the bearish divergence especially in the RSI which I use this indicator as a very important indicator to show me the first ever sign at the upcoming potential bearish moves. Here we can see, if we compare the price with the RSI moves, we haven't seen any act of higher high on the price and lower high on the RSI. We may see this in the upcoming moves.
The 2nd most important thing that the yellow region may become the strong support zone during this scenario. The range of this yellow region may between the $6800 -$6600 region. A lot of price action has occured around this area in the last 1 month. Beside, there might be an action of breaking out of the white resistance trend line at current condition.
If those condition above is true, we might see the delay of bearish moves with the price might have a test toward the next resistance area before it continue the downside movement. For short term, I can see a potential moves higher to the white region which is the golden pocket zone but for the longer term, I'm still on my current bearish bias with potential target toward $3000 or lower.
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إخلاء المسؤولية
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منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.