After recent sell-off, Bitcoin looks to have found support at the 50 MA and a new uptrend looks like it's about to begin with a formation of an inside bar on the 4hr chart. It's not yet confirmed since the candle is still yet to close. If it does closes as an inside bar, I would be going LONG.
INSIDE BARS: Inside bars show a period of consolidation in a market. A daily chart inside bar will look like a ‘triangle’ on a 1 hour or 30 minute chart time frame. They often form following a strong move in a market, as it ‘pauses’ to consolidate before making its next move. However, they can also form at market turning points and act as REVERSAL SIGNALS from key SUPPORT AND RESISTANCE LEVELS.
INSIDE BARS: Inside bars show a period of consolidation in a market. A daily chart inside bar will look like a ‘triangle’ on a 1 hour or 30 minute chart time frame. They often form following a strong move in a market, as it ‘pauses’ to consolidate before making its next move. However, they can also form at market turning points and act as REVERSAL SIGNALS from key SUPPORT AND RESISTANCE LEVELS.
Comment:
I HOPE Y'ALL LONGED COS I DID.
Comment:
Hopefully we break and close above 46500.