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

BTC Update #BTC_Update

What's new since the last update my dear community? Well BTC is trading back into its support zone at 42400.

The volume in the previous session was above its average level once again but this is not good news at all. Indeed, the high volume accompanied a candlestick that closed in the form of a bearish engulfing.

The daily technical situation remains positive but we are already seeing signs of a bearish bend. On a 4h time frame, the indicators are negative.

What should we do?

An engulfing candle is often synonymous with a strong signal, which is why I hope you have taken some or all of your gains on the long trade. Here we have two solutions, either we still manage to reach the 45k area and then 51k. In this case we short the first test.

If not, and this is less pleasing, we lose the long term support area of 39-40k. We will also short the restest if such a break occurs.

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

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