BTC - H4 - TREND REVERSAL ?
H4 : SO, WHAT NEXT ?
Looking at the latest development, we can see that on one hand
the target of the triangle pattern @ 58058 has been reached and on the
other hand, BTC failed to upside breakout the resistance level of the broadening wedge
pattern !
Therefore, those two reasons triggered some profit taking in building a potential broad
double top formation on both D1 and H4 chart.
Ongoing price action during the upcoming hours should be watch at very carefully.
Indeed, first support to look at is @ 56212 (Tenkan-Sen or conversion line) ahead of one the
main leading indicator which is the Mid Bollinger Band @ 55418.
A failure to hold and stay above that level should be sign as a strong warning of a ongoing
trend reversal in progress.
On the upside former high @ 58155 ahead of Feb 21st high @ 58354 are the levels to break to
confirm an ongoing upside price action
WATCH H1 AND M15 TO GET INTERMEDIATE CLUES
Looking at the latest development, we can see that on one hand
the target of the triangle pattern @ 58058 has been reached and on the
other hand, BTC failed to upside breakout the resistance level of the broadening wedge
pattern !
Therefore, those two reasons triggered some profit taking in building a potential broad
double top formation on both D1 and H4 chart.
Ongoing price action during the upcoming hours should be watch at very carefully.
Indeed, first support to look at is @ 56212 (Tenkan-Sen or conversion line) ahead of one the
main leading indicator which is the Mid Bollinger Band @ 55418.
A failure to hold and stay above that level should be sign as a strong warning of a ongoing
trend reversal in progress.
On the upside former high @ 58155 ahead of Feb 21st high @ 58354 are the levels to break to
confirm an ongoing upside price action
WATCH H1 AND M15 TO GET INTERMEDIATE CLUES
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