hello trader,
BTC in 4h time frame is very powerful as smart moneys placed buying order at 8003$ and this cause rises in prices. this matter has been confirmed in longer daily time frame, also MACD histogram starts sloping up from below of reference line, it is also indicated in DI indicator which 14 day DI+ continue to crossing over DI- and ADX. Therefore, we should witness bullish trend for BTC in short term period. on the other hand, in weekly time frame BTC is still bearish which makes long position not suitable for swing traders. However, short term traders can enter the long position and take profit at resistance level and EMAs.
BTC in 4h time frame is very powerful as smart moneys placed buying order at 8003$ and this cause rises in prices. this matter has been confirmed in longer daily time frame, also MACD histogram starts sloping up from below of reference line, it is also indicated in DI indicator which 14 day DI+ continue to crossing over DI- and ADX. Therefore, we should witness bullish trend for BTC in short term period. on the other hand, in weekly time frame BTC is still bearish which makes long position not suitable for swing traders. However, short term traders can enter the long position and take profit at resistance level and EMAs.
Comment:
look at the bollinger band squeezing in the keltner channel which indicating that market will be in consolidating period for a while.