BTC has closed a 2h bearish engulfing candle and is looking extremely weak to the downside...
I am expecting a move to the $8900-9000 region and to bounce off this area as it is also confluent with the daily 200MA, and the weekly 21EMA.
There could also be a quick move up to 9150 before a move downwards.
This is still ranging downwards in a downsloping parallel channel consolidation, this can indicate a big move to the upside if broken.
- This also can mean there might be a quick test around the heart-line ($8850) with a bounce.
Bitcoin is also creating multiple examples of hidden bullish divergence on time frames like the 4H.
I am expecting a move to the $8900-9000 region and to bounce off this area as it is also confluent with the daily 200MA, and the weekly 21EMA.
There could also be a quick move up to 9150 before a move downwards.
This is still ranging downwards in a downsloping parallel channel consolidation, this can indicate a big move to the upside if broken.
- This also can mean there might be a quick test around the heart-line ($8850) with a bounce.
Bitcoin is also creating multiple examples of hidden bullish divergence on time frames like the 4H.
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Zone being reached as expected.
