Hello friends! ๐
I present to you a review of Bitcoin on the 4-hour chart.
Bitcoin continues its steady decline near the support zone. The weekend does not suggest any significant movements as volatility remains low. The maximum we might see is a retest of the 4-hour timeframe's Moving Average 200 (MA200) from below. A strong bounce off the MA200 could indicate a possible breakthrough of the support zone and continuation of the downtrend.
It's also worth noting that a "death cross" has formed on the 4-hour timeframe. The last time it appeared on the chart was in May, which led to a 10% decline.
I present to you a review of Bitcoin on the 4-hour chart.
Bitcoin continues its steady decline near the support zone. The weekend does not suggest any significant movements as volatility remains low. The maximum we might see is a retest of the 4-hour timeframe's Moving Average 200 (MA200) from below. A strong bounce off the MA200 could indicate a possible breakthrough of the support zone and continuation of the downtrend.
It's also worth noting that a "death cross" has formed on the 4-hour timeframe. The last time it appeared on the chart was in May, which led to a 10% decline.