Hi friends, welcome at newest bitcoin update:
Price consolidating in between 5800 resistance level and 4800 I marked them on chart.
LET'S HAVE A LOOK FROM DAILY PRICE ACTION:
From daily price action and RSI we can see a long-tail wick candlestick and dip in RSI.
To have a good reversal signal from price action we have long-tail candlestick. But RSI… Well, to have reversal with RSI, we need to have Bullish Divergence. This means we need to see price below previous low to complete bullish divergence: or 3824 according to lowest price or according to closing price 4829
How it can be I showed on picture below 👇
FROM 1H TIMEFRAME
Strong Resistance Zone near 5800 and 6200. I think price can reach this levels and rebound lower, but not big chances from current prices…
Right now price facing dynamic resistance and possible flowing down to Strong Support zone near 4800—4200. So If price reach this zone, I will start to buy bitcoin for mid-term without leverage.
You can support this idea with like ❤️and comments. Bookmark this idea to analyse price action in future🔖
Price consolidating in between 5800 resistance level and 4800 I marked them on chart.
LET'S HAVE A LOOK FROM DAILY PRICE ACTION:
From daily price action and RSI we can see a long-tail wick candlestick and dip in RSI.
To have a good reversal signal from price action we have long-tail candlestick. But RSI… Well, to have reversal with RSI, we need to have Bullish Divergence. This means we need to see price below previous low to complete bullish divergence: or 3824 according to lowest price or according to closing price 4829
How it can be I showed on picture below 👇
FROM 1H TIMEFRAME
Strong Resistance Zone near 5800 and 6200. I think price can reach this levels and rebound lower, but not big chances from current prices…
Right now price facing dynamic resistance and possible flowing down to Strong Support zone near 4800—4200. So If price reach this zone, I will start to buy bitcoin for mid-term without leverage.
You can support this idea with like ❤️and comments. Bookmark this idea to analyse price action in future🔖
Nota
👉 Please follow up my new Bitcoin update, consider put like and love to se your inputs in comments 👉👉 
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Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.