6h bear div formation on RSI, Btc will retrace at this divergence formation anywhere at the red zone, most likely $12.650/12.800 and after that I estimate a quick red candle to hit the $11.800/$11.900, I expect all this price action in the next 24 to 48 hours.
warning, weak price action, high chance to drop to $11.100 or lower, better to use stop at entry or be out until a better signal
been watching this 21 ema on a 6h chart, i wouldn't like a candle to close below that $11.700 value, entries were given around $11.500/$11.600 would be good pace to set SL if you don't want to risk it.or manually exit if a 4 hour candle closes below $11.400
I will update in 25min after this 12h candle closes, I would like to see a a good response in price and go back up to $12.000/ $12.100
Not the best 12h and 6h close, but still hasn't break the critical level, same conditions I explained in the last update.
Something weird that only happened during the bull run in 2017 is happening just right now, Altcoins are making lower lows and btc keeps making higher lows, the last time it happened btc made and extraordinary pump from 12 k to 17k, and look what happened to altcoins, I will send a chart example with xrp
the yelow line below is XRP, notice how it was divergent from bitcoin, making lower lows and btc making higher lows, now look what happened next
Btc went up and down many times very volatile, and at the last pump XRP made and extraordinary jump more than 10 x gains in 2 weeks
That was the story, now lets take a look to the present situation, very similar.
2017 vs 2019 image, BTC (candlesticks) vs XRP (yellow line) price action.