Hey everyone. Be interested in your thoughts here.
Bitcoin has some bearish confluences at the 4H including an ascending channel, RSI divergence and decreasing volume.
At the same time the 40 k psychological level has essentially been achieved leaving bulls in two minds and possibly out of motivation.
The yearly gains have been impressive with the recent up wave not being matched with a retracement.
Each down wave has been circa 20 %
The ETF news has played out with the actual approval remaining- buy the rumor sell the news
Its possible that the market is now looking for value.
Bitcoin has some bearish confluences at the 4H including an ascending channel, RSI divergence and decreasing volume.
At the same time the 40 k psychological level has essentially been achieved leaving bulls in two minds and possibly out of motivation.
The yearly gains have been impressive with the recent up wave not being matched with a retracement.
Each down wave has been circa 20 %
The ETF news has played out with the actual approval remaining- buy the rumor sell the news
Its possible that the market is now looking for value.
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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.