BTC
📈 Bitcoin has completed a technical pattern but is now approaching a significant resistance area, warranting caution.
⏳ While there might be room for one more upward push according to the 4-hour chart, a bearish divergence could follow, leading to a potential drop.
🛡️ For those currently in a Bitcoin trade, adjusting stop-loss orders is recommended to protect profits due to the weakened momentum and proximity to resistance.
@marcosemmimfp:
“Bitcoin as such, this already… come on, it has to keep going up more, starting now. It has a complete pattern near a resistance area. Here, you have to be very careful. Let’s give it one or two more days, but here it’s the same; you have to be careful because we are respecting a trend line that we haven’t managed to break, the moving average, and well, the support zone that’s there. If you already have a trade here, adjust a stop and that’s it, let it be. How are we in momentum? The strength is weakened because this movement practically has no presence anymore, and the rest of the momentum is missing. Well, just to see if we at least reach 91, but I would already adjust a stop there. How does a 4-hour chart look? Does it tell me anything? I think you might have one more little rise, and then you’ll have a kind of divergence. That is, this will go up here, you’ll have the divergence afterwards, and it will fall. Okay? But we’re analyzing too much, so the same applies: you have to grab it, and if you have it in a trade, adjust a stop.”
Watch the exact part of the video where @marcosemmimfp talks about Bitcoin here:
Watch the video on YouTube
Read more articles analyzing Bitcoin (BTC) at the following link. BTC stock.
