We are in descending channel on 4 haurly btc chart.
I just want to point out that we are at the strong resistance levels like daily resistance, point of control and golden pocket. On top of that we have this channel with multiple touch points on the downside and 2 touches on the upside.
With that hidden bearish divergences and bearish candel close on the weekly i am not sure if the bulls are strong enough to fight back at the moment.
This may be bad for the bulls if they dont show more buying preassure and some spicke in volume.
As of my trades i am taking 50% of the table from 41.9k and look how is this going to play out.
What do you think about this descending channel and can we break all this resistances?
If you like my ideas please follow me and like the post because i am posting every day and you can find always something interesting on my profile, i am new to Treadingview but i have 6 years expirience in trading
I just want to point out that we are at the strong resistance levels like daily resistance, point of control and golden pocket. On top of that we have this channel with multiple touch points on the downside and 2 touches on the upside.
With that hidden bearish divergences and bearish candel close on the weekly i am not sure if the bulls are strong enough to fight back at the moment.
This may be bad for the bulls if they dont show more buying preassure and some spicke in volume.
As of my trades i am taking 50% of the table from 41.9k and look how is this going to play out.
What do you think about this descending channel and can we break all this resistances?
If you like my ideas please follow me and like the post because i am posting every day and you can find always something interesting on my profile, i am new to Treadingview but i have 6 years expirience in trading
MP