OrriginalCrypto on Nostr: #Bitcoin 4 hour and Bollinger Bands. PA fell down the lower band and has since pulled ...

#Bitcoin 4 hour and Bollinger Bands.

PA fell down the lower band and has since pulled off it and is now trying a recovery though it may find resistance around the Basis line ( orange Dots ) at around 51500
The VRVP on the right of the chart shows us the Window of low resistance that exists up to the POC ( point of control Red Dots ) at 63200, which is also the area where the upper band line is.
Today, I think markets are waiting and once the Trigger is pulled, we will see reactions.
Over all, resistance overhead is weakening and the potential for Further gains exist though, at the same time, we need to be aware that a drop is also very possible.
On a Longer term timeframe, It should be understood that trend strength is now very weak. The trend being a submissive one. The Ranging since March 2024 is about to end and trend strength will increase and it will be BULLLISH