ASR - VC indicator 4h channel status update:
The current BTC price is still in a bullish trend, but the upward momentum has significantly weakened. The price has stepped back to test the orange line many times. If there is a small level change in the short term, it must be related to the orange line's decline and breakout. Before the orange line is confirmed to fall below, the price will fluctuate upward along this line. Once it falls below, it will usually move back towards the yellow line.
Basically, every strong bull trend follows the following process:
Stage 1: The price successfully breaks through or approaches the orange line (average pressure level)
Stage 2: Oscillate upward along the orange average pressure zone and gradually absorb supply.
Stage 3: Accelerate the rise until it breaks through or breaks the red overbought line
Stage 4: Entering the shock or callback stage. If the price does not fall back below the yellow line and enter the shock channel at this time, it will usher in step 2 and continue to rise; if it accidentally falls below the yellow line and returns to the shock channel, the price will officially open. The market is volatile, the bullish trend is over, and we are waiting for the brewing of a new trend market.
Stage 5: The price falls below or is close to the blue average support level in the shock. If the support is valid, it will continue to fluctuate. If the price is confirmed to fall below, the trend will turn into a short trend.
Judging from the current situation, the bullish trend has generally remained unchanged, and the price momentum remains at the level of early November. The only thing that needs attention is whether the price falls back into the shock channel.
