SHORT: Lower BB Squeeze on 4h, likely breakdownCreating another short position here after 6k target reached. 5500 target. Very strong 4h bottom BB band breakout through the tightened squeeze. Breakdown on the 1D chart looks imminent with 5500 lower BB. Confirmation of the breakdown trend shown through low RSI, MFI, and volume levels. 1W outlook: lower BB hits 5100. Also compare also with ichimoku cloud. More than enough confirmation of the downtrend.
Btcusdshort
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BTC to retrace before uptrendBTC has been ranging on the daily but on the 4H it seems to be forming an H&S pattern which is confirmed by the volume profile. A break below 6430 will confirm the pattern and will onset a downtrend. Further the RSI seems to show bearish divergence on the 4H.
If the price action breaks above 6700, this pattern would be invalidated. Therefore, a little patience is needed before the trend is confirmed.
Happy and Safe trading,
nsai
Bitcoin is confusedhello guys at the moment of writing this post we think that it's very difficult to predict what's going to happen next in cryto space especially by looking at charts of btc but we will try our best to give you our opinion on and our bias towards bitcoin,
ok let's start-Right now we think that our major resistance line is very crucial to break for bulls to come back with full force but we really don't think it's going to happen especially in short term,right now btc is trading around 8200 usd and it's next weak support line is around 7800usd which we think is fair price to get in if you are looking to buy but our main fear is that if btc manages to break below our major resistance line then it will be a very scary time as psychological part can also play a role for people to sell there btc,one factor which will contribute more panic in holders that it will be the first year since the creation of bitcoin when it's not surging even in the months of may and june which proved to the best months for bitcoin and other altcoins,we don't think it's going to manifest but a trader should always keep one thing in mind and that is what if? so personally we set our buy order around 7800-7900 usd and we will sell it around 9000 usd,this is where btc is consolidating from long time
Ok thank you guys,please like our idea if you found something useful,we are going to post daily idea on cryto assets while our main focus is gold and silver, many regards-neeraj pandey