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Last night BTC attempted a break out of this small triangle drawn here, and even had a nice rising support level. It soon broke to the downside and reached the measured move off the triangle and back to the 0.618 support. The 1H MACD is showing us a shift currently underway. It is also showing lower levels of negative momentum with a higher low in price possibly coming in. This should be a bullish indication for the next move and might begin to shift momentum on the 4H timescale as well. The immediate resistances are at the 0.5 and .0382 levels.
Remember that the only thing we can control in the market is risk management!
Everything here is my own opinion and should not be taken as trade advice!
Questions, comments or concerns? Send me a private message!
I Hope you all are doing well!
Leave a like and comment!
Last night BTC attempted a break out of this small triangle drawn here, and even had a nice rising support level. It soon broke to the downside and reached the measured move off the triangle and back to the 0.618 support. The 1H MACD is showing us a shift currently underway. It is also showing lower levels of negative momentum with a higher low in price possibly coming in. This should be a bullish indication for the next move and might begin to shift momentum on the 4H timescale as well. The immediate resistances are at the 0.5 and .0382 levels.
Remember that the only thing we can control in the market is risk management!
Everything here is my own opinion and should not be taken as trade advice!
Questions, comments or concerns? Send me a private message!
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My mistake! 1H MACD is showing HIGHER levels of negative momentum ( MORE negative momentum) not lower. Still a higher low! Price did not close below the 0.618!
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Very large lower shadow. 0.886 retrace.
Very large lower shadow. 0.886 retrace.
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watch the divergence!
watch the divergence!
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Attempting support at this zone here
Attempting support at this zone here