BTC Inversion or false restart? (W D 4h analyses)
BTC features a very clean and tidy chart on Weekly.
We are inside this channel and hit bottom and then rebounded through today leading to the formation of a (technically) bullish Hummer candle.
Following the weekly chart are bullish, main support 40k.
The TF daily always touches the Bottom of the channel now we are facing the resistance of this cluster which has seen a strong exchange between 41k and 42k, resistance retested several times in the past.
If it breaks the cluster and resumes the red candle, I remain bullish on a short term position, forming a bullish "STAR DOJI MORNING" pattern.
On TF 4h we just broke the top of the double bottom with a green candle, (very bullish short term signal).
Also in this case for a trend reversal on tf 4h we should break 42k, if instead we wanted to be more aggressive counting on the breaking of the top but risking more we could open a long with S.L at 40k.
We are inside this channel and hit bottom and then rebounded through today leading to the formation of a (technically) bullish Hummer candle.
Following the weekly chart are bullish, main support 40k.
The TF daily always touches the Bottom of the channel now we are facing the resistance of this cluster which has seen a strong exchange between 41k and 42k, resistance retested several times in the past.
If it breaks the cluster and resumes the red candle, I remain bullish on a short term position, forming a bullish "STAR DOJI MORNING" pattern.
On TF 4h we just broke the top of the double bottom with a green candle, (very bullish short term signal).
Also in this case for a trend reversal on tf 4h we should break 42k, if instead we wanted to be more aggressive counting on the breaking of the top but risking more we could open a long with S.L at 40k.
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