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

4 jul 2023

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 ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.

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4 jul 2023

Operación activa

BTC was able to break the uptrend line.

5 jul 2023

Nota

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

6 jul 2023

Nota

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

7 jul 2023

Operación cerrada: objetivo alcanzado