BB, and EMA crossing Strategy
H4 chart is one of my favorite charts, where it is not too short to lose the trend and events reactions on the market and not that wide to do not have a point for daily traders.
From the beginning of July, it is mostly moving under the Middle line of Bollinger Bands. The lower band consistently lowering as new Lower Low and 32,111 as 20 SMA and middle line of BB created a significant level that has been testing several times since July, signaling that it can be a crucial Pivot at the moment. Several times, in the last two days, trading was trading out of the lower Band of BB, which started precisely from 32,111. Interestingly, this is the lower level of the shoulder in the head and shoulders pattern in the H1 chart; if we do not confuse the numbers and understand the chart's inherent simplicity, Bollinger Bands tells us that we can bet more on downtrend than uptrend.
In the EMA crossing Strategy, 50 period moving Average is the Pivot level; there was support from June 23 till July 12, and since that is the strong resistance. In the H4 chart, I usually use the 50 and 100 period EMA for the Bitcoin chart. From June 24, 50 EMA crossing down the 100 EMA, signaling that downtrend has been started. It is mostly trading under 100 MA, signaling that the overall outlook still stays harmful for pairing. 28,880 as 23'th June low is the next target, as long as it is trading under PP.
