BTC Limited upside on cyclical pattern. Sell entry approaching.
Bitcoin is close to breaking the 4H MA50. Last time that happened after a -20% drop from the most recent High, it market the upside's limit and the price reversed. It is not impossible to repeat the same pattern at around a +15% peak. This is currently around 8,930. We are therefore expecting a bearish reversal there.
If however we break above on an aggressive candle (keep checking volumes for that) then the pattern is invalidated and 4H may fill the Gap at 9,800. In fact it could be a symmetrical fill as well as seen on the chart below:
Exercise extreme caution. The 4H RSI patterns are also identical.
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If however we break above on an aggressive candle (keep checking volumes for that) then the pattern is invalidated and 4H may fill the Gap at 9,800. In fact it could be a symmetrical fill as well as seen on the chart below:
Exercise extreme caution. The 4H RSI patterns are also identical.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial