quangcttn

BTC on the 4-hour chart has shifted to an upward trend

quangcttn Updated   
BINANCE:BTCUSD   Bitcoin
BTC has broken the 4-hour swing high, indicating a change to an upward trend. It is expected that BTC will continue to rise towards the supply zone within the daily timeframe
Trade active:
BTC has broken through the 4-hour timeframe high, but we need to wait and see if, when this 4-hour candle closes, its body will break above the 4-hour high. If the candle's body breaks through, it indicates strong buying pressure, and the price is likely to continue rising.
Trade active:
Today in the 4h time frame, BTC created a peak with candles
Trade active:
After BTC closed the candle and peaked in the 4-hour time frame, the price increased and SWEEP peaked in the 4-hour time frame.
To know if the price continues to rise or has a pullback, we need to monitor the reaction of the next candles to see if they can break this SWEEP peak or not. Otherwise, the price will have a pullback.
Trade active:
BTC today broke the Swinghigh peak of the daily frame
Comment:
This is a strong bullish Swing structure after the CHOCH signal in the 4H time frame. The internal wave of the i-Swinglow creation structure is strong so the price falls to the OB of the i-Swinglow and continues to rise.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.