💡Signs of the FALL of Bitcoin(4-hour time frame)💡

2023年7月4日

Bitcoin has NOT seen an upward or downward Sharpie movement for about 12 days and is moving in the form of a Range market; this Range movement generally causes the formation of a Rectangle pattern.

Bitcoin is currently moving above the rectangle pattern and the 🔴resistance zone($31,420-$31,220)🔴.

💡Signs💡 of Bitcoin falling again from the resistance zone can be candlestick patterns: Hanging Man, Shooting Star, and Marubozu Candle.

Also, if we look at the RSI indicator, we can see that there is a strong Regular Divergence (RD-) between two consecutive peaks inside the rectangle pattern. In addition, the RSI indicator seems to be issuing one of the most reliable sell signals, the Bearish Failure Swing.👇



🔔I expect Bitcoin to fall to at least the 🟢support zone($29,860-$29,420)🟢 and the bottom of the rectangle pattern after breaking the uptrend line.

Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰.

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2023年7月4日

交易進行

BTC was able to break the uptrend line.

2023年7月5日

註釋

It seems that Bitcoin has completed its pullback to the uptrend line and is ready to fall.

2023年7月6日

註釋

Bitcoin reacted well to the resistance zone again; if the support line breaks, Bitcoin will fall to the support zone.

2023年7月7日

交易結束：目標達成