BTCUSD - H4 - DOWNTREND CHANNEL INTACT
H4 : Last candle triggered also a Doji pattern which is showing somme uncertainty and indecision in making a pause
in this ongoing bearish price action.
As a result, we can see now a new recovery attempt which will face a first resistance -@ 46074 (TS) ahead of
MBB (47213) which is also currently the top of the downtrend channel.
Therefore, for the time being, we can continue to consider current price action as a corrective move only in a broad
bear trend.
Watch channel breakout (s) for clues and monitor closely H1, M15 and M4 for intermediate validation or invalidations signal (s)
in this ongoing bearish price action.
As a result, we can see now a new recovery attempt which will face a first resistance -@ 46074 (TS) ahead of
MBB (47213) which is also currently the top of the downtrend channel.
Therefore, for the time being, we can continue to consider current price action as a corrective move only in a broad
bear trend.
Watch channel breakout (s) for clues and monitor closely H1, M15 and M4 for intermediate validation or invalidations signal (s)
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