Here we have a BTC chart on 4hr time frame. It can be seen that the market is testing a resistance zone of 9600-9800. This is also the .382 of the last bearish leg down to 8.3k.
If this move fails to break this resistance , we could see a retrace to the nearest supports of 8.6k and if that fails to hold, a bearish flag breakout to lower support area could materialize.
All indicators are pointing to a pull back.
This are just my thoughts , not a trading advice. Good luck and stay profitable.
If this move fails to break this resistance , we could see a retrace to the nearest supports of 8.6k and if that fails to hold, a bearish flag breakout to lower support area could materialize.
All indicators are pointing to a pull back.
This are just my thoughts , not a trading advice. Good luck and stay profitable.
Nota
The pair failed to consolidate the breakout above the resistance zone of 9600-9800. A retrace towards the 8500-8700 support zone is in play.Nota
After the expected retrace, the support zone of 8700 seems to be holding well. The pair could go sideways for a bit and turn up higher. In a broader perspective, as long as the pair holds above the previous low 8329, it has a potential to form a higher low and retest 9600-9800 resistance and possibly the 10.4k which is also the. 618 of the last swing low.Nota
We have convincingly broken-down through the bear flag. Moving to the next support at 6700 ( Red arrow).
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.