Hello fellow traders, with so uncertainty within the market as analysts are calling for targets ranging from $1k to $100k+ it can get quite confusing trying to make sense of this and so I thought I'd shed some light on the situation as I best see it in the Here and Now. So let's jump right in!
Here we have the 4H BTC/USD Chart where hidden bullish divergence (which I've covered in a previous) has been spotted which can be seen highlighted by the Yellow trend lines.
The bearish trend-line (in red) which goes all the way back to the all-time-high is turning out to be more and more relevant at the present time to us as we either cross and close above this resistance/support trend-line or get rejected again as we have several times over the past week. We also have several confirmation touch-points (yellow circles) along this down trend-line which is turning out to to be a key area to watch.
For zoomed-up view of the area within the yellow rectangle take a look at the update below:
Please don't forget to comment your thoughts, and like/&follow if you've enjoyed this analysis. It really makes my day :-)
***All opinions expressed above are for educational purposes only and are not to be used as financial advise. Always DYOR and never rely on anyone else to make your investment decisions for you.***
Here we have the 4H BTC/USD Chart where hidden bullish divergence (which I've covered in a previous) has been spotted which can be seen highlighted by the Yellow trend lines.
The bearish trend-line (in red) which goes all the way back to the all-time-high is turning out to be more and more relevant at the present time to us as we either cross and close above this resistance/support trend-line or get rejected again as we have several times over the past week. We also have several confirmation touch-points (yellow circles) along this down trend-line which is turning out to to be a key area to watch.
For zoomed-up view of the area within the yellow rectangle take a look at the update below:
Please don't forget to comment your thoughts, and like/&follow if you've enjoyed this analysis. It really makes my day :-)
***All opinions expressed above are for educational purposes only and are not to be used as financial advise. Always DYOR and never rely on anyone else to make your investment decisions for you.***
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