What everybody was thinking on BTCUSDT.[write or wrong][LEARNER]
I have readed the 20 to 30 ideas on tradeingview on BTCUSDT.
someone is talking about the prehalving , elliott wave ,45K for liquations etc.
someone is telling that LONG up to 200k others SHORT up to 20k.
But in market both bulls and bears but it's is important to note that which side you are in is much more important.
Generally we look at the chart observe the indicators or priceaction etc.
let see what indicators are telling about the BTCUSDT.
RSI in 4H is 63.88
in 1D is 48.38
while observeing back price makes the higher high but RSI makes the lower high.(in daily time frame)
Bearish divergence occurs when the price of the asset makes higher highs, indicating an upward trend, while the RSI makes lower highs, signaling weakening momentum. This discrepancy between price action and momentum can be a warning sign that the upward movement may be losing strength, and a reversal or correction could be on the horizon.
When comes to EMA's
26th jan 2024 candle closes the above 10 day ema (not full but half) but today may be close above the 10 day's EMA.
the 21 day EMA and 50 day EMA was crossing in 27- jan -2024.
price was supported at the 100 period EMA and also price moving above the 200 day EMA also trading above 200 day SMA.
while MACD was prepareing to cross each other for bullishness.
yesterday volume is 47.384k
while observeing the price action.
we have internal trendline i think this can be broken and price may reject at the level of the 42751 or 43k.
if the BTC was broke 45K level it can be the bullish , also liquidate the 1.5 Billion (accroding to the Binance BTC/USDT Liquidation Map)
i think will take the liquidations be carefull.
