BINANCE:BTCUSDTPERP
Investors are collecting profits as the price is now near the peak all time high levels. Bull trend remains positive, but we will likely observe price consolidation for the day. You should monitor how low the price can reach during consolidation phase to evaluate the strength of buyer/bull sentiment.
I have plotted green/red boxes to...
Price is currently showing strong downtrend. Need to wait for more price signals to indicate a reversal. I am not going to short as the profit margin and risk ratio is not ideal.
Price is likely to hover in the yellow rectangle box for sometime. Looking at the price movements, there might be an upcoming short opportunity. This needs to be further confirm by next H4 candle.
Need to monitor price movement after price touched support line and rebounded.
Price price movement still suggest stronger sell trend, with a short term reversal.
Price likely aiming for H4 resistance line (1.08964)
Depending on how far buyers can drive price up, this will determine if there are short opportunities.
Price is now trending inside the grey region. No clear indication of up/down trend until upcoming financial report (Unemployment rate).
Based on price movement, we can see a huge spike at H4 (23 Apr'20, 2100 GMT +8). This might happen again as price is at the lower side of the grey region.
