Bitcoin back to 40k?!
with a lot of fluctuation in the market right now it is difficult to predict what will happen, ill do my best to show what will happen with my predictions.
first of all, bitcoin tapped a key-level (44,5k), which will normally be a bullish sign, however it quickly pulled back and is now showing a inverse hammer candle (as you can see on the 1h chart, and besides that, it is trying to make one on the 4h time frame.). This will result in a pullback back to 40k. Multiple indicator show that this will happen, the RSI being near overbought, which shows shorting opportunities and the stochast is indicating ''bearish'' behavior.
I hope this will help. If you have any tips or tricks please let me know, I am a beginning trader and I am always open for feedback.
first of all, bitcoin tapped a key-level (44,5k), which will normally be a bullish sign, however it quickly pulled back and is now showing a inverse hammer candle (as you can see on the 1h chart, and besides that, it is trying to make one on the 4h time frame.). This will result in a pullback back to 40k. Multiple indicator show that this will happen, the RSI being near overbought, which shows shorting opportunities and the stochast is indicating ''bearish'' behavior.
I hope this will help. If you have any tips or tricks please let me know, I am a beginning trader and I am always open for feedback.
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