The Bitcoin exchange rate (BTCUSDT) is at the lower limit of the long-term horizontal range, which took shape after reaching a minimum of 26700 on 12.05.2022.
On the H4 chart, the consolidation figure after the downward impulse is most clearly visible. The figure resembles a triangle, which from the point of view of classical technical analysis is a continuation...
H4 Stochastic forms a bearish divergence and price comes the trend line breakout.
SELL around 34600
Stoploss : 35800
Target : 33000
Note:
This is not a financial advice and it is only for educational purpose, Do you own analysis. I will not be responsible for your loss.
The coins is yet to find its way outside the asymmetrical triangle. It still pays to maintain a bearish sentiment at this moment. You're expected to change your sentiments only if the coin can :
1. break out of the asymetrical triangle and travel North
2. achieve a cross over on H4 moving average.
