Interesting 4h frame unfolding
Although BTC is looking pretty bad, the 4H frame tell us another story, where our hope of bounce is getting stronger. senkou span B is currently providing support i am expecting a bounce from
such a strong support. weak piercing pattern is forming andthe next candles will provide the confirmation, if confirmed, target will be senkou span A (7.8k).
If btc close below this support will be a free fall down to 6.8k. Also looking at various indicators i can spot a bullish divergence, creating conflict in price and momentum reinforcing the idea of a bounce back up to test 7.7k.Another pattern seems to be in play which again add a point to the bounce, a falling wedge pattern, which is usually a reversal pattern giving us a 64% chance of a move up. I am pretty confident a bounce will occur with such a strong sign spotted in the 4h frame, however the price may readjust consolidating above this support, if this would be the case, than a leg lower 6.8k is expected. Today is the judgment day for BTC. bulls last hope is in play, let's see. Always looking a candles to spot the right entry.
such a strong support. weak piercing pattern is forming andthe next candles will provide the confirmation, if confirmed, target will be senkou span A (7.8k).
If btc close below this support will be a free fall down to 6.8k. Also looking at various indicators i can spot a bullish divergence, creating conflict in price and momentum reinforcing the idea of a bounce back up to test 7.7k.Another pattern seems to be in play which again add a point to the bounce, a falling wedge pattern, which is usually a reversal pattern giving us a 64% chance of a move up. I am pretty confident a bounce will occur with such a strong sign spotted in the 4h frame, however the price may readjust consolidating above this support, if this would be the case, than a leg lower 6.8k is expected. Today is the judgment day for BTC. bulls last hope is in play, let's see. Always looking a candles to spot the right entry.
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