$BTC is at a promising point!
I'll help you read this analysis so that you can truly understand the current market structure.
- Watch how $BTC broke out of that strong 4hr resistance, then came back to retest it. (We expect a bounce from that trendline)
- Watch how it formed an uptrending channel, where it's continuously making Higher Highs and Higher Lows. (We expect this to continue)
Should it fail to hold this level, then we look for the next support zone at 36,5k, if that one fails 35k etc..
If things go according to plan, $BTC bounces now, reaches the EQ (41k) of the channel, bounces back from there then continues up to 45k.
I'll help you read this analysis so that you can truly understand the current market structure.
- Watch how $BTC broke out of that strong 4hr resistance, then came back to retest it. (We expect a bounce from that trendline)
- Watch how it formed an uptrending channel, where it's continuously making Higher Highs and Higher Lows. (We expect this to continue)
Should it fail to hold this level, then we look for the next support zone at 36,5k, if that one fails 35k etc..
If things go according to plan, $BTC bounces now, reaches the EQ (41k) of the channel, bounces back from there then continues up to 45k.