BTC/USD Correction

in #chart5 years ago (edited)

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  • Currently In 4 hour chart. BTC/USD rally is already overdue and finally some retracement is coming which is good for bullish trend to be preserved for much longer time.

  • Support Line
    Support : 7600 +- (200 EMA)
    Support2: 6300 +- (support/resistance from past)

  • Resistance Line
    resistance : 8300 +- ( support from previous ascending triangle top)
    resistance2 :8600 +- (last highest price before dumped + recent down trendline + 20 EMA + 50 EMA )

  • Indicator :
    DMI : DMI- is skyrocketed while DMI+ is doing reverse, bearish and DMX(momentum strength) is still relatively weak, below 25.
    MACD: histogram is changing to seller volume,MACD line and signal line already crossing with a sell signal is still in progress.
    Volume MA is rising with seller volume

please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.

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