Following my previous analysis, just published a couple minutes ago, I will go more in depth on shorter time frame
and I am going to explain the price action expected in this 1 hour time frame.
As you can see on the RSI indicator, a bullish divergence took place and it has been done on the long candle ( hammer ) andalso around the TS ; such kind of price action should continue slightly to the North with an upside pretty limited.
Indeed, KS (56’900) ahead of MBB (57’500) will be the first significant resistance levels on this time frame !!!
Please note that MBB coincides also with the double top trigger level mentioned in my previous analysis…
For the time being, BTCUSD remains a SELL on rally on strategic view and short term countertrend trading opportunities should be exploited with a disciplined approach in adopting a serious risk management monitoring !!!!
All the best
Have a nice trading day
All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied.