Bitcoin in lower timeframes (4H)

4 hari lalu

Bitcoin appears to be within a "Trading Range" on lower timeframes.

Within this range, a bearish "QM" (Quasimodo) pattern seems to have formed. To complete the right shoulder of this QM, the price may need to rise to higher levels (red box).

It could move from the green box up to the red box.

Generally, during the year-end holiday period, many large and small traders need cash and sell part of their assets, causing a mid-level correction in the market. During these days, the market seeks liquidity hunts and fluctuations within a specific range. At this stage, it's advisable to reduce the number of your trades and avoid futures trading to some extent.

For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You

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Dagangan aktif

Upon encountering the green box, the price pumped over 6% but did not reach the red box.

A QM pattern has also formed on the chart.

If the price opens below the green box, bears could take control, leading to further corrections.

Conversely, if the red box is broken, the bulls may regain control, and the price could resume its upward trend.

Currently, the price is in the Trading Range, reflecting indecision near Christmas. During this period, the market is likely to experience numerous pump-and-dump movements. It's advisable to reduce futures trading.