thecharttechnician

BTC/USD Hourly Chart Outlook.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
255 0 3
This analysis is for EDUCATIONAL PURPOSES ONLY and SHOULD NOT BE TAKEN AS A FINANCIAL ADVICE.

Since the price action has now entered into the zone of support of the next higher time frame daily, some short term bullish hourly reversal may not be ruled out. Whether or not it occurs and becomes a successful one is another matter must also be said.

I am looking for a STOP/HALT to the short term downtrend in the hourly, which may result in a reversal of the daily. I have marked the penultimate hourly bar with the heaviest volume where sellers may be displaying sign of exhaustion and covering.If we see a completion of a BULLISH PIVOT over the next few to several hours, further analysis would be warranted to unfold what may be beneath the surface.

Analysis continues.....
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