Curency : BTCUSD
Time Frame : 4H
We are in a risk zone, although we had a break from the symmetrical triangle on the 4H chart.Bulls tried to break the 4k resistance several times but failed.The indicators are also not looking good.There's a bearish divergence on CCI, FMA is getting very closer to SMA on MACD,EMA9 is about to cross the EMA21.On the other hand the OI in the bitmex,volume is decreasing. Analyzing all these situation, current market position is looking more like a short squeeze just like the day of January 6.A short position we might expect. In this case 3700 is our first support. I will update my idea if it is needed. Let me know what are you thinking about the market trendz today in the comment section. Good Luck!
Time Frame : 4H
We are in a risk zone, although we had a break from the symmetrical triangle on the 4H chart.Bulls tried to break the 4k resistance several times but failed.The indicators are also not looking good.There's a bearish divergence on CCI, FMA is getting very closer to SMA on MACD,EMA9 is about to cross the EMA21.On the other hand the OI in the bitmex,volume is decreasing. Analyzing all these situation, current market position is looking more like a short squeeze just like the day of January 6.A short position we might expect. In this case 3700 is our first support. I will update my idea if it is needed. Let me know what are you thinking about the market trendz today in the comment section. Good Luck!