🅱️ Bitcoin Short-Term - 4H - Update

١ أغسطس ٢٠٢٣

A very strong and clear reversal now taking place for Bitcoin.

The daily timeframe is showing a very strong reversal candlestick pattern that only confirms later today once the current session closes.

Zooming in, Bitcoin (BTCUSD) on the 4H/Short-term timeframe, the reversal signals are strong and clear.

✔️ A long-term lower low leads to the previous session closing as a hammer.

✔️ This strong hammer is being confirmed by a full green candle supported by high volume and bullish divergence with the RSI.

✔️ The bullish divergence is double as it can also be seen with the MACD (24-July vs 1-Aug.).

These are very strong and clear reversal signals.

Either Bitcoin moves back up to the upper range of the channel, re-enters range trading or continues to hit a higher high.

Regardless of how this move ends, Bitcoin is set to grow in August 2023... Very easy to see, don't you think?

Namaste.