BTC Bitfinex: next 4-6 hours critical
Hi all,
clear descending triangle pattern (usually bearish). Price got rejected at 0.618 Fib level, which I would consider as normal pullback.
RSI is in uptrend, but Stoch RSI (which I would consider more appropriate in ranging markets) is in overbought area. MACD crossed bullish but is still below midline. Volume is low which could mean another bearish impulse.
Next 4-6 hours should be decisive.
Short term bullish scenario: Close above green descending trendline.
Bearish scenario: Close below red horizontal line (of descending triangle).
------------
Comments are welcome.
Please like & follow for more TA.
DISCLAIMER:
This is neither a trading nor a financial advice.
You are responsible for your own actions so do your own research.
clear descending triangle pattern (usually bearish). Price got rejected at 0.618 Fib level, which I would consider as normal pullback.
RSI is in uptrend, but Stoch RSI (which I would consider more appropriate in ranging markets) is in overbought area. MACD crossed bullish but is still below midline. Volume is low which could mean another bearish impulse.
Next 4-6 hours should be decisive.
Short term bullish scenario: Close above green descending trendline.
Bearish scenario: Close below red horizontal line (of descending triangle).
------------
Comments are welcome.
Please like & follow for more TA.
DISCLAIMER:
This is neither a trading nor a financial advice.
You are responsible for your own actions so do your own research.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.