#BTC/USD Update +
📊 4h-Frame 📉 S & R 📈 Chart Update
#Bitcoin has hit this high-demand area for the 8'th time! 46200$ Yearly close acted as strong support as we expected in the previous analysis but it becomes weaker after every hit. The weekly candle closed below the 48000$ as well which is not a positive sign.
The Possible inverse head and shoulders pattern with the 48000$ neck line is still valid by having a new higher low for the right shoulder. (4h-Frame)
We need to go up fast and break this neck line to confirm this pattern or #BTC will dump more by breaking the last 45500$ last support. As we know the #OnChain and #Technical #Analyses are not bullish so much at the moment.
📊 4h-Frame 📉 S & R 📈 Chart Update
#Bitcoin has hit this high-demand area for the 8'th time! 46200$ Yearly close acted as strong support as we expected in the previous analysis but it becomes weaker after every hit. The weekly candle closed below the 48000$ as well which is not a positive sign.
The Possible inverse head and shoulders pattern with the 48000$ neck line is still valid by having a new higher low for the right shoulder. (4h-Frame)
We need to go up fast and break this neck line to confirm this pattern or #BTC will dump more by breaking the last 45500$ last support. As we know the #OnChain and #Technical #Analyses are not bullish so much at the moment.