4-Hour Bitcoin Analysis
The price has formed a new structure, presenting us with a double bottom pattern. The neckline of this pattern could provide an opportunity for a long position in line with the larger trend. This movement is sharper than the previous decline, and each time we initiate a new upward wave, the volume increases. This suggests strength in the new bullish trend, offering further confirmation for a long position.
However, if this area turns out to be a fake breakout or the price gets rejected at the neckline with an increase in bearish candle volume, we may consider a short position at this point.
Everything depends on the reaction to this key area.
The price has formed a new structure, presenting us with a double bottom pattern. The neckline of this pattern could provide an opportunity for a long position in line with the larger trend. This movement is sharper than the previous decline, and each time we initiate a new upward wave, the volume increases. This suggests strength in the new bullish trend, offering further confirmation for a long position.
However, if this area turns out to be a fake breakout or the price gets rejected at the neckline with an increase in bearish candle volume, we may consider a short position at this point.
Everything depends on the reaction to this key area.
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.