BTC - H1/M15 - WARNING POTENTIAL DOUBLE BOTTOM @ 47520 !
H1 : Breakout of the clouds support zone triggered another wave of selling pressure which
pushed down the BTC towards a low so far of 47520.
Indicators are not showing bullish divergence yet on this time frame.
M15 : Picture slightly different where a potential bullish divergence might be seen !!!
Therefore, watch carefully price action over the coming M15 period to validate a trend reversal
If it is the case watch MBB (48805) as first significant short term resistance level
On the downside, an invalidation of a bullish divergence would directly put the focus on the 47000 area
ahead of the 45300-43000 pivot support area mentioned on H4
pushed down the BTC towards a low so far of 47520.
Indicators are not showing bullish divergence yet on this time frame.
M15 : Picture slightly different where a potential bullish divergence might be seen !!!
Therefore, watch carefully price action over the coming M15 period to validate a trend reversal
If it is the case watch MBB (48805) as first significant short term resistance level
On the downside, an invalidation of a bullish divergence would directly put the focus on the 47000 area
ahead of the 45300-43000 pivot support area mentioned on H4
