"CHART STORIES"

Popas la 93.000: The story of the giant $BTC who forgot to climb

Imagine that Bitcoin is an experienced climber who recently tried to conquer the peak of 95,500 meters (the maximum of the last 24 hours). He got there, looked down, but felt that the oxygen was too little and his legs were too heavy. So he decided to descend a little, making a stop at the altitude of 93,214.

1. The base camp and the “Safety Net”

If we look at the daily chart (1D), Bitcoin is in an interesting situation. Although it has dropped a bit today (by ~ 2%), it is still on a fairly safe path. There is an indicator called #SupertrendStrategy which stands at 88,488 like a safety net stretched under our climber. As long as it doesn't fall below this threshold, the story remains one of ascent.

However, we notice that the “clouds” (moving averages) are beginning to gather above it at 95,800. It's like a glass ceiling that it tried to break, but for now, it has been rejected.

2. Afternoon fatigue (4h Analysis)

When we look closer (on the 4h chart), we see why the ascent has stopped. Indicators that measure energy, like #RSI RSI, tell us that our climber is “sweaty.” The values are below 40, which means that enthusiasm has decreased and people have started to fear that the cold is coming.

Moreover, another “speed sensor” (#MACD ) has turned red. It's as if the engine has started to cough a little, and the ascent speed has turned negative.

3. What do the neighbors in the market say?

There is an indicator called OBV (On-Balance Volume) which in both pictures shows negative numbers (e.g., -24.403 on 4h). In simple terms, this means that the “backpack” of those selling is heavier than that of those buying. People are pocketing profits and heading home, allowing the price to slide gently downwards.

If you like "CHART STORIES" #Follow_Like_Comment and you will have a new story daily

No risk, no win! Trade $BTC