BTC – Daily major support | 4H bullish divergence
Bitcoin / Dollar BITFINEX:BTCUSD
The goal here is to track events leading up a possible trade, not an immediate entry.
Some bullish thoughts:
- Major daily support level
- Likely bullish divergence on 4H chance (pending next candle close)
- BTC shorts around ATH
- BTC shorts looking like a possible double top
- 2 times Fibonacci extension from a recent swing low -> high
- At lower Bollinger Band and sell volume is decreasing
If turns out be valid 4H divergence, and we see a second RSI pivot higher than the last, waiting for another retracement and entering in one the 1H timeframe. Expecting at least a bounce here