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 after being anemic for 2 months recently gave us a rally up to 24k.

The average volume has been quite high in the last few weeks even if we can start to feel a lull since last week.

The daily technical situation remains negative with a negative MACD and WaveTrend. On a 4h time frame, the indicators are negative.

What to do?

Even after this recent rally, there is still a significant resistance area located between 25-28k. We are already above 21k, which is also a very important area from a volume point of view.

Have we found the bottom? It is possible but as long as we are not above 28k it remains dangerous. At the very least, to open a retracement position, even in the short term, we would have to register a high point above 25k.

https://www.tradingview.com/x/kJCr1Bi3/

In the meantime stay safe, I wish you all a great Sunday!