BTC USDT 4h - weekly outlook, with bearish divergence
Monday update on bigger scale - $BTC 4h chart:
- we managed to break the S/R line @ 55k and fixate closes higher - next stop should be 58k and then towards ATH. But we have some indications for small correction coming - seeing RSI is in divergence with price, which signals potential retracement. Why potential? Because BTC is in a grind and it would take a coordinated dump by large players to bring this grind to a stop. In case it happens around here - we have 55k and 53k to support us quite near and this is the range we were trading in these last couple of days. Further down we have a stronger support 51k and 48k, which should hold the dump and reverse from there. We have also 200MA coming to support 48k.
MACD will probably make a small cross, catching that move over 58k level - then we will see...
Have a great trading week 🤟🏼
- we managed to break the S/R line @ 55k and fixate closes higher - next stop should be 58k and then towards ATH. But we have some indications for small correction coming - seeing RSI is in divergence with price, which signals potential retracement. Why potential? Because BTC is in a grind and it would take a coordinated dump by large players to bring this grind to a stop. In case it happens around here - we have 55k and 53k to support us quite near and this is the range we were trading in these last couple of days. Further down we have a stronger support 51k and 48k, which should hold the dump and reverse from there. We have also 200MA coming to support 48k.
MACD will probably make a small cross, catching that move over 58k level - then we will see...
Have a great trading week 🤟🏼
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