2021/09/19 11:03 AM – H4/H1 – INDECISION

BTCUSD – H4/H1 – INDECISION by Ironman_8848 on TradingView.com

Good morning, today we are going to look at the H4 and H1 time frames which are both showing some growing uncertainty about further development. 

Indeed, I mentioned in my previous analysis to look carefully at the 48’000 as a barometer indicator and looking at recent and current price action we can note, so far, some lack of momentum to clearly confirm a breakout of the level above mentioned. 

In addition, on H4, a  RSI  bearish divergence has already been triggered which pushed, slighlty down the  BTC towards  KS and clouds  support zone which hold for the time being. Please note that the recent low (47613) also, coincides with the new minor support  trend line (in green on H4) 

So, on H4 : 
on the downside, watch carefully the cluster  support area (47’947-47’768) as a failure to hold above this zone would open the door for the clouds zone with 
its bottom line currently around 46’000 ! 
on the upside, watch former high 48834 and check  RSI which will validate (convergence) or invalide (divergence) further upside !!! 

and on H1 : 
watch the cluster (48’000-48’225) on a closing basis ! failure to close above 48’225 and hold in a sustainable manner, would put some short term selling pressure, opening the door first for the very thin cloud 
support area (fragile !!!) 
On the upside watch for a potential upside breakout of the ongoing slightly  uptrend channel . 

Have a nice Sunday and all the best. 
Take care 

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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