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 is still trading around 16600 without much movement in this holiday season despite a timid attempt to break into 17k.

The trading volume in the previous session was just above its average level but it has been steadily declining for about 50 days now.

The daily technical situation remains negative with a negative MACD and WaveTrend. On a 4-hour time frame, the technical indicators are neutral with a MACD that has yet to cross higher and a WaveTrend that has just given a buy signal.

What to do now?

The situation has not fundamentally changed since last week and we can still expect more bearish movement. For now I will recommend caution until we have more confirmation.

https://www.tradingview.com/x/qcbhjG79/

I wish you all a great year 2023! Take care of yourselves!