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Daily BTC Technical analysis on short term time frame H4: rejection or continuation of the uptrend?


 

Stop hunting for shorts at $25032 just above the last high at $24940.

H4 bearish divergence to be confirmed with a close below the last low at $24400 to test the key support level at $23671 in confluence with the MA 62.

While waiting for the opening of the DXY and the S&P 500 we can say that we have just emptied the train of shorts on the BTC at 25K to prepare for a possible bearish wave if the dollar DXY continues its bull run and the S&P 500 will be rejected of its resistance between 4290 to 4300!

https://www.tradingview.com/x/BP6QC3FI/

 

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In both directions there is liquidity to take for the market makers, except that we have more liquidations of Longs towards 23.2K to 23.6K close to the price with large leverages, and as I said before if we break $24400 the next support will be at $23671, so we can just leave a wick down to $23200 before looking for the next big spikes around 21K, 19K and 17K

 

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FreedomBuilder
FreedomBuilder

Crypto investor, trader & holder, looking for to build my freedom with the Blockchain technology.


Trading The King of Crypto
Trading The King of Crypto

Technical analysis of bitcoin and the crypto market. - Cryptos are correlated to BTC. - BTC is correlated to the S&P500 - The S&P500 is the largest US market, it can be called the Bitcoin of the stock market. If we can follow the BTC price action we will be able to follow all the other crypto projects, when to buy and When to sell???

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