BTC/USD 4h chart
BTC/USD 4h chart
As expected from the last price analysis, 41k worked as strong support, and even RSI has dropped below 30 due to high selling pleasure. Both were a good signal that we’re about to bounce from there.
However, shortly we aren’t out of danger yet! Above us we still have a high volume per price traded what could keep us below 46.400$.
The expectation for the next few days is, that price might be trapped in a range of drawn descending channel and support line at 41.100$. If we manage to break out of the channel consider placing some long positions if you haven’t yet. Another great deal would be to enter after we close daily above 50k
As expected from the last price analysis, 41k worked as strong support, and even RSI has dropped below 30 due to high selling pleasure. Both were a good signal that we’re about to bounce from there.
However, shortly we aren’t out of danger yet! Above us we still have a high volume per price traded what could keep us below 46.400$.
The expectation for the next few days is, that price might be trapped in a range of drawn descending channel and support line at 41.100$. If we manage to break out of the channel consider placing some long positions if you haven’t yet. Another great deal would be to enter after we close daily above 50k
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