What's up guys. Been a while I updated you guys on TV. Been busy with my academics. But that's by the way. Let's take a look at the 4 hour chart of bitcoin.
Looking at the chart, you'll notice we're currently moving in a falling wedge and probably made the last touch of the bottom of the wedge. Wait for a breakout of the top of the wedge before you go long as there's always a small chance of the wedge breaking to the downside.
On the indicators, you can see that the MACD is having a bullish divergence, the OBV is flat while the price is going down (another divergence), the RSI is making higer highs while the price action is making lower lows. All these support the notion that we might see an upward movement in the coming hours or days. Remember to only trade on a breakout. Good luck guys.
Remember to do your own research before trading. Commodore loves you!
Looking at the chart, you'll notice we're currently moving in a falling wedge and probably made the last touch of the bottom of the wedge. Wait for a breakout of the top of the wedge before you go long as there's always a small chance of the wedge breaking to the downside.
On the indicators, you can see that the MACD is having a bullish divergence, the OBV is flat while the price is going down (another divergence), the RSI is making higer highs while the price action is making lower lows. All these support the notion that we might see an upward movement in the coming hours or days. Remember to only trade on a breakout. Good luck guys.
Remember to do your own research before trading. Commodore loves you!
Comment:
A key level to watch for below is $7701. If the wedge breaks down and falls below this level, then get ready to see some sustained falling to the 7200 and maybe 6400 levels. Be watchful guys. Trading isn't for lazy people. Lol
Comment:
We had a bounce at the top of the wedge. Regaining momentum before a breakout? Only the patient traders will find out in the coming hours... Stay tuned! :)
Comment:
Trade active. Break out of falling wedge. Heading towards the target
Trade active
Trade active:
Trade is still active. Keep stops below 8096 as any move below that will signify more selling pressure and invalidate our trade
Good luck
Good luck
