Bitcoin is trading within a Channel Down on the 4H chart (RSI = 40.146, MACD = -29.400, Highs/Lows = -41.2139, ADX = 22.853) on a very steady pace that provides clear entry and exit points.
We are expecting a new Lower High within the pattern which we are shorting towards 7,020. That is the Support of the High Volatility zone as designated by the green Rectangle. As long as the 4H MA50 applies selling pressure, there will be potential for an even greater decline.
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We are expecting a new Lower High within the pattern which we are shorting towards 7,020. That is the Support of the High Volatility zone as designated by the green Rectangle. As long as the 4H MA50 applies selling pressure, there will be potential for an even greater decline.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial