BTC Update #BTC_Update What's new since the last update guys | 4C Trading News

BTC Update #BTC_Update

What's new since the last update guys? Well BTC continues its rebound and is now trading around 37500.

The trading volume in the previous session was above its average level but significantly lower compared to previous sessions.

If we analyze this over a shorter time frame such as 4 hours, we can see a clear decrease in volume while prices are slowly increasing. This is generally not a good sign for the continuation of the uptrend.

The daily technical situation is now neutral with a buy signal on the WaveTrend and a MACD that has still not crossed upwards. On a 4-hour time frame, the indicators are positive.

What to do now?

It would be quite surprising to see BTC climb in a straight line right after the huge dump we experienced. It is more likely to see BTC move in a range and the 40-42k level could well be an upper bound.

https://www.tradingview.com/x/l7d7j5Y1/

We will see how the price action develops and if we can open a short position when we approach this level. In the meantime, I wish you all a great day!