in #btc2 years ago

Bitcoin is forming a bearish channel on the 4h chart + bullish divergence (RSI - market strength is rising versus the chart which is falling). This could indicate a preceding pump that may come in the near future, of course it all depends on the world situation, especially USA/BIDEN/UKRAINE/RUSSIA. Anyway, for a bullish move, we will need to break the resistance yellow wall and then confirm it in support for a bullish move back to 38.700-39.600 to occur.

Now any minor negative news would be derogatory for the market because of the potential downside, of course positive news will be exactly the opposite. Therefore, making new positions may not be very safe in the current situation. I'm leaning more towards a bearish scenario, which has a good momentum in the current situation, but as I said, any negative/positive news can turn the market one way or the other.

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