4 Hour BTC - Price action flat and seeking FIB retracement

10 Jun 2023

Price action in a Fib Retracement.
Price seems to be stuck in the .382 channel without the price touching at .382 Fib line yet.

I am looking for price to make lower lows and a clear testing at FIB lines of: .382 or .500 or .618

When these lower price tests occur I will be looking for clear price bar signals and bullish patterns. Patterns like, divergence, reverse H & S, Relative Strength and other indicators for example.

As for now, as of publishing time, I see no reason to go long yet.

15 Jun 2023

Nota

15 Jun 2023

Nota

Analyzing the Weekly price action in reference to the RSI indicator.
I have cross referenced with Green and Pink Arrows.
Seems to me like a high chance we should still see PA to trend bearish.

19 Jun 2023

Nota

19 Jun 2023

Nota

see what happens, keep monitoring TA and watch how it goes out.
Could be into the first part of Jul 2023
Could be as quick as a few days.

9 Sep 2023

Nota

This linked chart is the continuation of this original post chart. Also I need to add in the 1W RSI follow up picture from a few updates before/above.

9 Sep 2023

Nota

Okay here is the comparison RSI chart continuation from the first comment update above. I have zoomed in on the dates, so the referencing is mostly year 2023.

9 Sep 2023

Nota

This should be my last update for this chart.
Can you see the H & S on the RSI and MACd indicators ? (if U bring up UR own chart)
This PA in relevance to said "indicator - H&S" is what I call as a "smooth'd over trend reversal" signal. Once the Weekly RSI is floating down under 50% Strength it will draw a heavy weight on any type of PA Bull movement until it reposts a Strength of over 50%.
Also, as of Saturday Sept 09, 2023 today, I do show the Daily and 4 hour indicators wanting to move up from their under 50% positions. In this case we should see a price spike pressure upwards, their respective RSI's up over 50%, till the Daily and 4-hr decide to climb down under 50% to reset again. I still hold an overall BIAS towards a Bearish outcome over the next few months, which means a lower low from todays PA in the year 2023 still to come.