Btc analysis on its 4 hour TF with supp & resis
Updated
BTC analysis on its 4-hour time frame with support and resistance levels. As you can see, it takes support from the Fibonacci ratio of 0.382. Now it's time to observe a pullback towards its support line, and you can clearly see the 0.5 Fib level also near its support level of 22,200.
It is also important to keep an eye on the divergence indicator and the Stochastic RSI, as they both show the oversold data.
The 50-day moving average (50 MA) is also crucial as it has acted as support in the past, but now it has rejected the price and is acting as resistance.
It is also important to keep an eye on the divergence indicator and the Stochastic RSI, as they both show the oversold data.
The 50-day moving average (50 MA) is also crucial as it has acted as support in the past, but now it has rejected the price and is acting as resistance.
Note
A break below could be the potential heavy crash. Keep your stops tight in every trade as of now
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