Daily BTC market opening analysis. 4hr chart outlining the price action and what we need to see next.
4hr price action after today's daily close is bullish,
although we opened below the previous candle
we closed above and have started the next 4hr session strong.
As you can see, after the TK crossover we have bounced
around and confirmed short term support,
these are good signs but we have strong horizontal resistance.
We are not out of the woods yet,
we have to break the previous high of this bull run
bounce on the 90 EMA
and challenge the 150 EMA and top trendline.
Lots of work to do yet!
4hr price action after today's daily close is bullish,
although we opened below the previous candle
we closed above and have started the next 4hr session strong.
As you can see, after the TK crossover we have bounced
around and confirmed short term support,
these are good signs but we have strong horizontal resistance.
We are not out of the woods yet,
we have to break the previous high of this bull run
bounce on the 90 EMA
and challenge the 150 EMA and top trendline.
Lots of work to do yet!
