As shown with two 4-hour divergences and a daily with no indication of divergence, we should see a brief stall of price action with some chop-chop zone being created. As the institution monies continue to move forth, there is nowhere but upwards future pressures. Very Bullish
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Tuesday March 12, 2024. We have some great activity, possibly a profit taking area. None the less, from the Wednesday Nov 10th, 2021 .. we dipped below that ATH line .. was a 6.06% drop so far. Not a big deal ... buckle up this kind of movement and indicator reset can draw in a 15% total drop, which is a normal movement for BTC .. Good Luck
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It is possible we are in a indicator reset phase. Last strong 4-hour reset was Jan 2024. We can see the price divergence against the MACd and confirmation with RSI (dark purple bottom indicator) where it shows bottoming out twice. Early TA visually seems that this could be a case of 4-hour indicator resetting. Next screen shot we can compare with this historical one.
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Placed some graphics on here to compare with the above screen shot. I am going to make a 4-hour run chart of this graphic, minus the indicators Look for it on my profile page or maybe below in comments.
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This should link to the newest chart.
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Yes it does the link to the newest active chart... just click on the picture above.
@marcolopes, yeah they see that the 50-day ma needs a touch.. about a 20% dip, that would be approximately a quick wick down to estimating 60k, if it was Tuesday 19 march, 2024. But those other prices you mentioned is a price crashing down to the 100 & 200 ma lines... ouch 30% to 45% drop. Everything is possible with the Korn, but an unlikely scenario currently.