BTUCUSDT EQUIDISTANC DESCENDING CHANNEL

MFI shows a bullish divergence and a pullback up is possible but the overall trend is still down LL and LH.

Very high probability for the price to pullback up into the VAL line and the strong resistance level before doing down again .

Enter short after the pullback up completion and a reversal candle stick while MFI still below 50 level

Good LUck

Bình luận:

Price reached the strong resistance level, VAL level and the upper channel but could not break up . VAL will continue to be a strong dynamic resistance until it is broken up .

MFI still below 50 level and pointing downward which reflect a strong downward momentum as indicated by the long body 4h candle .

possible minor pullback but the overall down trend should continue for now .

Bình luận:

1h minor pullback Up

Bình luận:

MFI and STO are showing bearish momentum and the price has a high probability to grab liquidity and continue the minor pullback up . after grabbing the liquidity MFI and STO must start showing bullish momentum and preferably a candle sweep with a long lower wick to confirm the upward movement .

Good LUck

Bình luận:

BTCUSDT currently extremely oversold and due for a pullback up .STO crossed up but still below 20 and MFI still below 20 level but pointing down. wait for both indicator to cross up to confirm pullback up momentum. use Fibo levels and VAL as first TP

Giao dịch đang hoạt động:

Price broke up the upper channel trendline and reached TP3 but it did not reach the FVG low .The price has a high probability to reach the 78.60 % and the strong resistance level and possibly grab liquidity before continuing the down trend.

MFI & STO are both overbought and pointing down on the 1h but on the 4h both indicators are still above the 80 level and going up . momentum is still upward and will shift when both timeframe agree

The price still needs to retest the upper channel trendline to confirm upper channel trendline breakout and possible trend reversal

Good Luck