BTC is in a Descending Triangle Pattern on the 4hr. A Descending Triangle is a Bearish Chart Pattern.
Note that BTC has bounced off the base of the Descending Triangle 5 times as support.
BTC is still under its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe.
BTC has dropped under its Least Squares Moving Average (LSMA) and it looks like BTC will close this 4hr Candle below the LSMA which will be a sell signal for this indicator.
The Moving Average Convergence Divergence (MACD) has also gone negative into a sell signal.
If you are waiting to go long with BTC, I would tread very carefully as there could potentially be much lower prices coming up if BTC breaks below and more importantly closes below the Descending Triangle.
I hope this is helpful with your trading and hodl-ing
Note that BTC has bounced off the base of the Descending Triangle 5 times as support.
BTC is still under its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe.
BTC has dropped under its Least Squares Moving Average (LSMA) and it looks like BTC will close this 4hr Candle below the LSMA which will be a sell signal for this indicator.
The Moving Average Convergence Divergence (MACD) has also gone negative into a sell signal.
If you are waiting to go long with BTC, I would tread very carefully as there could potentially be much lower prices coming up if BTC breaks below and more importantly closes below the Descending Triangle.
I hope this is helpful with your trading and hodl-ing