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 in its support zone at 41800.
The trading volume in the previous session was below its average level once again. The latter has been steadily declining since mid January.
The daily technical situation remains neutral with WaveTrend still negative but showing signs of bullish curves. On a 4h time horizon, the indicators are positive.
What to do now?
BTC seems to be holding above its support zone despite repeated failures to break above 45k. Nevertheless, we have approached 45-46k without testing it, which makes it dangerous to open a short position at this level.
We will therefore wait for either a break of the 46k to place a buy retracement or a break below the current support area to go short.
