BTC/ USDT - important zone

Bear case:
MA50 above,
resistance zone
MACD about to hit 0 level (typically it acts as resistance from below and could turn down)
Hbearish divergence but thats pretty normal with such moves
and bearish megaphone line (if this is even a thing),
probable Wave 4 of elliot correction

Bull Case:
I do not see any technical bullish signs except for the strong bounce of the previous level with a sort of double bottom on 1h,
1d closed above 20 MA
more fundamental news lean towards bullish but that could be just hype to trap retail people like us

ความคิดเห็น:

As a matter of fact there is confluence of resistance. If it breaks up and retests it - bull run continues, if not - back to mid 40 range.

ความคิดเห็น:

Well, ok there are a couple of bull signals:

Got back above black trendline,
Seems to have tested it / level
Above 20 MA
MACD curling up

All in all, still undecided but I lean towards going down unless we see more volume on this move up.

ความคิดเห็น:

Careful for fakeouts:

ความคิดเห็น:

Fakeout into a triple top or ascending triangle about to break above?

ความคิดเห็น:

ความคิดเห็น:

Triple top breakdown to lower channel. If it dosen't hold -> 45k next. If it does, back to 51k

ความคิดเห็น:

Actually, on the 1h it is testing the previous resistance. If it breaksdown -> new lows to be expected, if not, it will visit upper channel;