BTC - H4 - ONGOING DOWNTREND STILL IN PLACE-CORRECTIVE MOVE ONLY
H4 : Following the two hanging man patterns triggered yesterday (double top), highlighted in red and confirmed
by a long black candle, a trend reversal took place, as shown by the downtrend line in red.
In order to neutralise this ongoing bearish price action, BTC needs to recover
and hold sustainably above this resistance line and this on a H4 closing basis.
A failure to do it would confirm the expected SELL on rally mode.
CONCLUSION :
A SUSTAINABLE RECOVERY ABOVE THE FORMER HIGH @56661, AHEAD OF 57633 (KIJUN-SEN & BASE LINE) WOULD FORCE TO
A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS !
by a long black candle, a trend reversal took place, as shown by the downtrend line in red.
In order to neutralise this ongoing bearish price action, BTC needs to recover
and hold sustainably above this resistance line and this on a H4 closing basis.
A failure to do it would confirm the expected SELL on rally mode.
CONCLUSION :
A SUSTAINABLE RECOVERY ABOVE THE FORMER HIGH @56661, AHEAD OF 57633 (KIJUN-SEN & BASE LINE) WOULD FORCE TO
A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS !
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