BTC Before FOMC 03/23
Bitcoin Analysis: 4H Chart
According to recent events on a macroeconomic perspective and TA on the weekly chart I conclude on the path Bitcoin could take.
- Major bearish divergence building (Higher highs price action, lower highs in the RSI)
- BTC about to face strong resistance (confluence area)
- Major possibility of rejection
Bitcoin is approaching what many in the field are calling the possibility of having another Bull run. However I remain bearish (but who knows I can be wrong). DXY is showing a clear H&S pattern so this can invalidate my theory. I wanted to share this before the FOMC decision is taken, I expect a big ugly set of candles during the time of the press conference and right after the decision is determined.
This is what I see, hence I wanted to share.
Happy Wednesday and trade safe.
According to recent events on a macroeconomic perspective and TA on the weekly chart I conclude on the path Bitcoin could take.
- Major bearish divergence building (Higher highs price action, lower highs in the RSI)
- BTC about to face strong resistance (confluence area)
- Major possibility of rejection
Bitcoin is approaching what many in the field are calling the possibility of having another Bull run. However I remain bearish (but who knows I can be wrong). DXY is showing a clear H&S pattern so this can invalidate my theory. I wanted to share this before the FOMC decision is taken, I expect a big ugly set of candles during the time of the press conference and right after the decision is determined.
This is what I see, hence I wanted to share.
Happy Wednesday and trade safe.
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.