BTC has been manipulated in the last day, as you can appreciate by the huge orange candle followed by a huge black candle washing out once again leveraged positions.
The chart is starting to look prime, similar to the July chart. I cannot wait for these last 4 months. They are gonna be legendary.
As you can see, BTC is in accumulation mode, with the last exhaustion move we had on the manipulation (check volume). It is now trading in a descending channel. The 4h is looking now overbought after a weak bounce. I expect BTC to retrace to 43700 and trade in a really tight range for 10 days before exploding upwards at the end of the month and try to reclaim the 50k level.
Also, please pay attention to the daily RSI and its trendlines in conjunction with the lower price support trendline. If both are clearly violated, then we will see lower prices (39k). However, we are exactly on support is a good sign, and we can expect a bounce.
Nevertheless, a couple of timeframes has also painted a bullish divergence between the momentum indicators (ChadMO, KST, RSI) and the sloping price.
These are all bullish signs.
Just remember to be prepared for both scenarios. Have in your mind the clear zone that if they are violated, the price will move in the direction expected (up or down).
Be patient. The bounce is coming. My entry is set at 43800.
The chart is starting to look prime, similar to the July chart. I cannot wait for these last 4 months. They are gonna be legendary.
As you can see, BTC is in accumulation mode, with the last exhaustion move we had on the manipulation (check volume). It is now trading in a descending channel. The 4h is looking now overbought after a weak bounce. I expect BTC to retrace to 43700 and trade in a really tight range for 10 days before exploding upwards at the end of the month and try to reclaim the 50k level.
Also, please pay attention to the daily RSI and its trendlines in conjunction with the lower price support trendline. If both are clearly violated, then we will see lower prices (39k). However, we are exactly on support is a good sign, and we can expect a bounce.
Nevertheless, a couple of timeframes has also painted a bullish divergence between the momentum indicators (ChadMO, KST, RSI) and the sloping price.
These are all bullish signs.
Just remember to be prepared for both scenarios. Have in your mind the clear zone that if they are violated, the price will move in the direction expected (up or down).
Be patient. The bounce is coming. My entry is set at 43800.
CFcryptoTA
check the youtube channel out
youtube.com/channel/UC1nxHmfbU0pyoX7Bp-ayDuA
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check the youtube channel out
youtube.com/channel/UC1nxHmfbU0pyoX7Bp-ayDuA
Telegram channel for 1 to 1 chat: t.me/TAEW4
