Bitcoin Analysis - The big picture
Looking at the BTC 4H here. We see that the price is currently hitting the H4 Key Level and safety zone and rejecting from there strongly.
Based on the price action, I feel we're on the move down with the strong rejection. The price is likely to test the trendline, and bounce back, try a retest of the key level. Depending on whether the price is able to break the retest or not, we will see a new move to the either side.
There are some good scalping opportunities during this move that one can take using the smaller time frames till we see a clear direction from BTC.
Currently, I'm waiting on a confirmation pattern or a price action to confirm the move to the downside. All we see right now is a rejection from the key levels. It is also possible that BTC will retry to break the zone again which is why a confirmation pattern is really important to take a trade.
Just a simple analysis. I'll be doing a deeper one later when I have some time.
Hope this helps and happy trading!
Based on the price action, I feel we're on the move down with the strong rejection. The price is likely to test the trendline, and bounce back, try a retest of the key level. Depending on whether the price is able to break the retest or not, we will see a new move to the either side.
There are some good scalping opportunities during this move that one can take using the smaller time frames till we see a clear direction from BTC.
Currently, I'm waiting on a confirmation pattern or a price action to confirm the move to the downside. All we see right now is a rejection from the key levels. It is also possible that BTC will retry to break the zone again which is why a confirmation pattern is really important to take a trade.
Just a simple analysis. I'll be doing a deeper one later when I have some time.
Hope this helps and happy trading!
Not
BTC hit the bottom of our channel. Taking a close look as to whether it does a small pull back to the Key Level and how it moves then. If we break the channel and close below, chances are we will just go down from there.Not
Looks like BTC broke out channel on the downside. Waiting on the candle to close and to get a confirmation for the downside. Not
BTC seems to be responding and getting some buys near the support level. This needs to hold here and then we should be good to continue in the channel to re-test 63K once again. 
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Feragatname
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