BTC :- 4Hr Chart Analysis
Hi Guys
Bitcoin is now in a major testing zone.We saw a perfect pin bar pattern on the lower time frame charts and have since moved up but have given up those gains soon too.
At the moment a RSI Positive Divergence is taking place and that involves the RSI Falling while Price are not below its previous lows.
Keep in mind such a divergence is of benefit only if BTC picks up substantially from here on.
I have still not turned bearish as we entering support zone territory from 8024-8450 as BTC could turn swifty from here on and confirm the "Higher Low" Formation that we have been speaking about.
Bitcoin is now in a major testing zone.We saw a perfect pin bar pattern on the lower time frame charts and have since moved up but have given up those gains soon too.
At the moment a RSI Positive Divergence is taking place and that involves the RSI Falling while Price are not below its previous lows.
Keep in mind such a divergence is of benefit only if BTC picks up substantially from here on.
I have still not turned bearish as we entering support zone territory from 8024-8450 as BTC could turn swifty from here on and confirm the "Higher Low" Formation that we have been speaking about.
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