✴️ BTC Update
What's been going on since yesterday, guys? We finally got our break? Yes and no,let's take a look at it right now!
Indeed, the price of Bitcoin has indeed surpassed the 6900 zone but the break was short-lived with a high point reached at 7300 before a proper rejection. On the 4h horizon it doesn't even count for a high high in the fence and it was of course not enough to enter in position on retest, not the necessary distance and much too fast.
The daily technical situation remains positive but we can detect signs of a bearish curve, the situation is the same on a 4h time horizon.
📈 Trend follower?
Positive in 1h and 4h and negative in daily.
👉 What can we do about it?
Even if for the moment the daily technical situation remains positive, yesterday's flash rejection is not a good signal in the short to medium term. Indeed, the BTC failed at the first possible level and did not close above its resistance zone in horizon 4h.
If we look at the volume, the one that comes with the rejection candle is relatively large. So we will wait, if the resistance actually breaks and approaches 7500, and stays there at least a bit, we will be able to consider buying on pullback, not before.
💹 Altcoins
The majority of the Alts are showing modest gains since the beginning of the session with Steem standing out from the pack, posting over 20% gains.
We remain cautious guys, this market is capricious!
Good Friday to all!😉
Enjoy our analysis!
Your 4C-Trading Team 💚
What's been going on since yesterday, guys? We finally got our break? Yes and no,let's take a look at it right now!
Indeed, the price of Bitcoin has indeed surpassed the 6900 zone but the break was short-lived with a high point reached at 7300 before a proper rejection. On the 4h horizon it doesn't even count for a high high in the fence and it was of course not enough to enter in position on retest, not the necessary distance and much too fast.
The daily technical situation remains positive but we can detect signs of a bearish curve, the situation is the same on a 4h time horizon.
📈 Trend follower?
Positive in 1h and 4h and negative in daily.
👉 What can we do about it?
Even if for the moment the daily technical situation remains positive, yesterday's flash rejection is not a good signal in the short to medium term. Indeed, the BTC failed at the first possible level and did not close above its resistance zone in horizon 4h.
If we look at the volume, the one that comes with the rejection candle is relatively large. So we will wait, if the resistance actually breaks and approaches 7500, and stays there at least a bit, we will be able to consider buying on pullback, not before.
💹 Altcoins
The majority of the Alts are showing modest gains since the beginning of the session with Steem standing out from the pack, posting over 20% gains.
We remain cautious guys, this market is capricious!
Good Friday to all!😉
Enjoy our analysis!
Your 4C-Trading Team 💚
