New lower high on BTC!
✴️ BTC Update #BTC_Update
What happened this weekend? The BTC finally hit its resistance zone around 7300 before dropping and is currently trading at 7150.
This last high is nothing more and nothing less than a lower high on the TF 4h, which doesn't bode well for the future. Trading volumes have been in constant decline since the beginning of this consolidation following the huge dump in mid-March.
However, the technical situation remains positive on a daily and 4h horizon. On a 1h time horizon, the indicators have already given a sell signal.
📈 Trend follower?
Negative on a daily horizon but positive in 1h and 4h.
What can be done?
Given the 1h technical situation, a short term decline cannot be excluded and this is why we will remain attentive to the 6950 level. If this level breaks down we will open a short position on retracement.
Be careful guys! 😉
Enjoy our analysis!
Your 4C-Trading Team 💚
What happened this weekend? The BTC finally hit its resistance zone around 7300 before dropping and is currently trading at 7150.
This last high is nothing more and nothing less than a lower high on the TF 4h, which doesn't bode well for the future. Trading volumes have been in constant decline since the beginning of this consolidation following the huge dump in mid-March.
However, the technical situation remains positive on a daily and 4h horizon. On a 1h time horizon, the indicators have already given a sell signal.
📈 Trend follower?
Negative on a daily horizon but positive in 1h and 4h.
What can be done?
Given the 1h technical situation, a short term decline cannot be excluded and this is why we will remain attentive to the 6950 level. If this level breaks down we will open a short position on retracement.
Be careful guys! 😉
Enjoy our analysis!
Your 4C-Trading Team 💚
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