The guild pattern on 4h timeframe has just broken down, now we are going for the 50m test.
Let’s start immediately with the graph in image 1 :
Image 1: tradingview – btc / usd – 2018-07-04 – 4h timeframe – broken downside guide
We can see how the pattern of the guide (in dark green) has been broken down, with low volumes and the ADX that signals a very weak trend.
At this moment we are going for the resistance test dictated by the amg50, under which it might be appropriate to fix the appropriate stop loss.
In image 2, instead, we highlight the previous inversion of short-term trends in April 2018:
Image 2: tradingview – btc / usd – timeframe 4h – previous trend inversion
It can be seen that the previous trend inversion occurred much more clearly (phases highlighted in red), and that therefore the current one could only be a lateralization phase.
Still in image 2 we can see in purple the pattern of the triangle in the long run which has been broken down but has not subsequently been again broken upwards, thus indicating a possible recovery.
Ultimately the current situation is to be monitored, monitoring the indicated signals and paying attention to a possible lateral phase that could resume its race to the bottom.