XBT:USD Four Hour View; Narrowing Triangle
MACD Histograms are below 0 for almost four days. As per me, it will crossover soon, triggering bots trading breaking all the resistance.
There has been a quite good support and resistance at these levels; the triangle is narrowing and people are waiting for some movement (up/down) for starting the positions. Similarly, bitmex funding rate is quite high. People are not letting BTC fall below the support zone. You can see the big red candles and all of a sudden, it turns out to the green. Volume is moderate too.
With MACD crossover, many of people trading with MACD strategies together with automated bots will change their sentiments :)
Not so far for the breakout; we will see it by around 8 AM, 11th Aug. Hope for the bullish one. Take appropriate stop loss if it could not resist the support level.
Just a small picture of what I see and what I think; not a trading/financial advice.
Have a good trade!
Hit like button if you agree with me.
There has been a quite good support and resistance at these levels; the triangle is narrowing and people are waiting for some movement (up/down) for starting the positions. Similarly, bitmex funding rate is quite high. People are not letting BTC fall below the support zone. You can see the big red candles and all of a sudden, it turns out to the green. Volume is moderate too.
With MACD crossover, many of people trading with MACD strategies together with automated bots will change their sentiments :)
Not so far for the breakout; we will see it by around 8 AM, 11th Aug. Hope for the bullish one. Take appropriate stop loss if it could not resist the support level.
Just a small picture of what I see and what I think; not a trading/financial advice.
Have a good trade!
Hit like button if you agree with me.
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