Bitcoin (BTC) - close green on 4H will likely see ATH tested
BTC is at a key level again. If the current 4H candle closes green (62600+) we will see the above indicators break as listed in the chart. OBV will break above key level, RSI upper trend will break, MACD will bullishly Cross. All of this points toward a high probability we will push through the last few percent to ATH and test.
If we close red there is still time: RSI, OBV and price trends suggest that it will resolve before the close of this daily candle, if we see weakness from bulls here and on balance red we start breaking lower dynamic supports and have to consider further sideways range or a dip back lower. 60k, then possibly 57.5k, 54k
(Clearly under lots of lines of resistance here, if its a weak close green likely also see rejection)
If we close red there is still time: RSI, OBV and price trends suggest that it will resolve before the close of this daily candle, if we see weakness from bulls here and on balance red we start breaking lower dynamic supports and have to consider further sideways range or a dip back lower. 60k, then possibly 57.5k, 54k
(Clearly under lots of lines of resistance here, if its a weak close green likely also see rejection)
Last 4H closed red, now in a caution zone. OBV trend is looking compromised - trend has held since we broke distribution channel late September, except the one point circled on chart where we saw a minor pull back. Last Candle was rejected from resistance, RSI was rejected from trend, MACD bearish momentum. Price still has some dynamic support, RSI still has support. OBV has a key level marked in Green which roughly reflects the 60400 level. Those are the supports I'm watching now, if they are compromised, particularly if the lower purple OBV channel is compromised will lower my risk and lock in some profit. Can still move sideways and remain bullish above green OBV support and 60400 level, otherwise looking at a pull back