Looking at the 4h BTCUSD chart, I can see that BTC is inside a channel causing a battle between Bulls vs Bears of the market. I see this as a 50/50 battle. We gotta watchout for the break points and trade accordingly. Its almost like the Real - Bayern match! You never know whats gonna happen until it actually happens. Unless you are a whale in this town, I would recommend wait for the breakout points and keep your eyes on the indicators to trade safely. Will try to update this as uch as possible.
getting close to the top resistance area, most likely we bounce back, but who knows maybe bulls actually got what it takes and surprise us all!!
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so we took the option one and break out of the resistance upwards. We got a strong resistance around 9800-10000 so if bulls succesfully break this, we might see a rly aggressive move towards 12k.
but most likely we might retrace a bit around here, lets see how this one plays out
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Well the Bulls definitely won that one but now we will be facing a correction. We have a bearish divergence in BTC, decrease in volume, and MACD also confirms it.
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so, the bearish divergence confirmed itself and we went down around 400-500$.
So whats next?
My guess is we'll have some buy ins coming in short term which will pump the price, then we will need to check again the scoreboard between Bulls & Bears
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we are on the edge of our support, which was previously our resistance. Gotta stay above that trendline, or else it will be a bloody week
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still a possibility. might be a small chance but better watch out
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please bounce from here and please make my analysis fail :) cmon bulls
Trade active
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if u actually checked the position of the E it was spot on! and we have been in the channel for so long now, lets see how BTCUSD is gonna play out in June.
For bullish scenario to play out, bulls have to be aggressive towards 8k s and let the fomo take care of the rest.
For bearish scenario, we will be making small trades during this zigzag formations.
Not worth risking BTC - USD trading in my opinion, better go for alts that have real world scenario.
Peace out! #DYOR
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BTC breaking the main support, I hope it gets back aggressively, or we will have to wait for some time for the recovery-.-