2021/10/10 06:56 AM – BTCUSD – H4 – MBB = LEADING INDICATOR !

BTCUSD – H4 – MBB = LEADING INDICATOR ! by Ironman8848 on TradingView.com

The Mid Bollinger Band ( MBB ) worked perfectly well so far in rejecting all downside breakout attempts !!!


Therefore, as long as this support level (currently @ 54’595) hold, it should be seen as a supportive signal,
calling for this ongoing upside move.


Watch also technical indicators (such as RSI ) which has already triggered, so far, only a minor BEARISH DIVERGENCE; nevertheless, a failure to switch from a divergence mode to a convergence mode would be an additional warning signal, which could trigger a renewal selling pressure calling for lower levels.

UPSIDE :

Watch former intraday high @ 56’168 (potential double top !), ahead of the ongoing uptrend channel projection levels.


DOWNSIDE :


Monitor closely 54’595 as the first significant support level ahead of 53’298 ( KS ) and also, currently
the bottom support line of the ongoing H4 uptrend channel

Disclaimer :

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. 

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