BTC losing steam on 1H and 4H. Short term looking like a short.
Looking for support between ~56470 and ~55300, 0.618 and 0.5 Fibonacci ratios and above previous red resistance trendline and above support green trendline.
Looking at the 1H volume spike we can see where the top was.
Volume is now increasing on the way down. Remember that this is the weekend.
I'm expecting a few bounce here and there. Not a very good place to take a low risk short right now.
Hitting support box and forming some bullish divergence on the 1H and/or 4H would be very bullish. Going under the green support trendline is obviously not good.
Comment
⋅
Almost a perfect touch
Comment
⋅
Nice bounce forming a higher low on 1H and 4H. Breaking EMA resistance and trendline with a confirmation would be very bullish.