Rejection and bounce, 6900 need to be overcome for bullishness!
✴️ BTC Update
Bitcoin dropped this weekend from 6600 to a low point around 5900, which is our previous buying range.
The daily technical situation is now negative with a sell signal on the WaveTrend while the MACD did not cross over at all. On shorter horizons such as 1h and 4h, a buy signal has already been given on the WaveTrend.
📈 Trend follower?
Negative on the 3 main time horizons.
👉 What can we do?
Bitcoin has rebounded on its support zone again but until it passes the 6900 - 7000 resistance zone, a higher high will not be entered and the downside risk remains greater than the upside potential.
Stay cautious 😉
Enjoy our analysis!
Your 4C-Trading Team 💚
Bitcoin dropped this weekend from 6600 to a low point around 5900, which is our previous buying range.
The daily technical situation is now negative with a sell signal on the WaveTrend while the MACD did not cross over at all. On shorter horizons such as 1h and 4h, a buy signal has already been given on the WaveTrend.
📈 Trend follower?
Negative on the 3 main time horizons.
👉 What can we do?
Bitcoin has rebounded on its support zone again but until it passes the 6900 - 7000 resistance zone, a higher high will not be entered and the downside risk remains greater than the upside potential.
Stay cautious 😉
Enjoy our analysis!
Your 4C-Trading Team 💚
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.