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BITCOIN UPDATE:- 4-hour timeframe, after forming the same continuation correction pattern for the third time and consolidating inside, the price finally broke the lower threshold. This resulted in a massive decline to the $18K support level.
This is the most crucial level for the bulls to defend. If the bears successfully push the price below this critical level, another clash for power will likely occur.
However, there is a considerable bullish divergence between the price and the RSI indicator in this timeframe. The formation, alongside the sentimental power of the $18K support level, indicates a potential reversal in the next few days.
The current question is whether the bulls can hold this support for the fourth time. Next week’s price action could be a clue to determining the outcome.
This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
BITCOIN UPDATE:- 4-hour timeframe, after forming the same continuation correction pattern for the third time and consolidating inside, the price finally broke the lower threshold. This resulted in a massive decline to the $18K support level.
This is the most crucial level for the bulls to defend. If the bears successfully push the price below this critical level, another clash for power will likely occur.
However, there is a considerable bullish divergence between the price and the RSI indicator in this timeframe. The formation, alongside the sentimental power of the $18K support level, indicates a potential reversal in the next few days.
The current question is whether the bulls can hold this support for the fourth time. Next week’s price action could be a clue to determining the outcome.
This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
