The 1-hour Bitcoin chart has just printed a climax oversold alert (see blue ball), indicating a potential upcoming reversal. This signal often marks areas where selling momentum is peaking, suggesting a possible shift in market direction.
The current setup shows:
Traders should watch for confirmation in the next few candles to validate this signal by looking lower at the 15m candle and perhaps waiting for a bullish engulfing candle or a 3-bar bullish reversal pattern. A break above resistance could set up a long to the next resistance level, while a failure to maintain this level might mean a continuation of the bearish trend which still has strength.
Disclaimer: Always do your due diligence and manage risk accordingly. This idea is not financial advice but an educational observation based on the current 1-hour chart patterns.
The current setup shows:
Traders should watch for confirmation in the next few candles to validate this signal by looking lower at the 15m candle and perhaps waiting for a bullish engulfing candle or a 3-bar bullish reversal pattern. A break above resistance could set up a long to the next resistance level, while a failure to maintain this level might mean a continuation of the bearish trend which still has strength.
Disclaimer: Always do your due diligence and manage risk accordingly. This idea is not financial advice but an educational observation based on the current 1-hour chart patterns.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.