Hi friends, welcome at newest bitcoin update:
Price consolidating in between 5800 resistance level and 4800 I marked them on chart.
LET'S HAVE A LOOK FROM DAILY PRICE ACTION:
From daily price action and RSI we can see a long-tail wick candlestick and dip in RSI.
To have a good reversal signal from price action we have long-tail candlestick. But RSI… Well, to have reversal with RSI, we need to have Bullish Divergence. This means we need to see price below previous low to complete bullish divergence: or 3824 according to lowest price or according to closing price 4829
How it can be I showed on picture below 👇
FROM 1H TIMEFRAME
Strong Resistance Zone near 5800 and 6200. I think price can reach this levels and rebound lower, but not big chances from current prices…
Right now price facing dynamic resistance and possible flowing down to Strong Support zone near 4800—4200. So If price reach this zone, I will start to buy bitcoin for mid-term without leverage.
You can support this idea with like ❤️and comments. Bookmark this idea to analyse price action in future🔖
Price consolidating in between 5800 resistance level and 4800 I marked them on chart.
LET'S HAVE A LOOK FROM DAILY PRICE ACTION:
From daily price action and RSI we can see a long-tail wick candlestick and dip in RSI.
To have a good reversal signal from price action we have long-tail candlestick. But RSI… Well, to have reversal with RSI, we need to have Bullish Divergence. This means we need to see price below previous low to complete bullish divergence: or 3824 according to lowest price or according to closing price 4829
How it can be I showed on picture below 👇
FROM 1H TIMEFRAME
Strong Resistance Zone near 5800 and 6200. I think price can reach this levels and rebound lower, but not big chances from current prices…
Right now price facing dynamic resistance and possible flowing down to Strong Support zone near 4800—4200. So If price reach this zone, I will start to buy bitcoin for mid-term without leverage.
You can support this idea with like ❤️and comments. Bookmark this idea to analyse price action in future🔖
Note
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📲 Join Telegram Trading Community: t.me/+5hlxWmhHaKplN2Rk
🎙️ 𝘾𝙊𝙈𝙄𝙉𝙂 𝙎𝙊𝙊𝙉 Daily Live Streams on 🔴 𝗬𝗼𝘂𝗧𝘂𝗯𝗲
🔍 linktr.ee/artemcrypto ✅
🎙️ 𝘾𝙊𝙈𝙄𝙉𝙂 𝙎𝙊𝙊𝙉 Daily Live Streams on 🔴 𝗬𝗼𝘂𝗧𝘂𝗯𝗲
🔍 linktr.ee/artemcrypto ✅
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.