Welcome to this quick update on BTC in 4 hours TF.
In my previous update, we saw how BTC got rejected from the resistance and the slight support that I was talking about, turns out to be a strong support cause BTC bounced exactly from that area. Currently, BTC is trying to break the resistance level of $38500 and once BTC gets through this then $40k-$41k will be the possible levels.
The daily close was around the resistance area which is a good thing and as per my analysis, I believe that BTC will break through the resistance level and try to reach a higher level. We have another 50 mins left for the 4 hours candle to close and if things go well then I will enter this trade keeping in mind the rejection.
I hope this chart is helpful for you guys. Do like, and comment on this chart. I appreciate every single likes and comment as it motivates me to post valuable information for you all.
Trade safely. I will see you on my next update.
In my previous update, we saw how BTC got rejected from the resistance and the slight support that I was talking about, turns out to be a strong support cause BTC bounced exactly from that area. Currently, BTC is trying to break the resistance level of $38500 and once BTC gets through this then $40k-$41k will be the possible levels.
The daily close was around the resistance area which is a good thing and as per my analysis, I believe that BTC will break through the resistance level and try to reach a higher level. We have another 50 mins left for the 4 hours candle to close and if things go well then I will enter this trade keeping in mind the rejection.
I hope this chart is helpful for you guys. Do like, and comment on this chart. I appreciate every single likes and comment as it motivates me to post valuable information for you all.
Trade safely. I will see you on my next update.
BTC quick update:
As expected, BTC broke above the resistance level and currently trending at $38800. I am expecting the daily close to be above $39k to confirm a bullish move above $40k to $41k. We have already entered long on BTC at around $38500.
Let’s see if it reaches our targets which are between $40k to $41k. I have kept my SL at $36500.
I will update more on it after the daily close. Until then trade safely.