Bitcoin Short-term | 4H & 1H Timeframes

We start with the 4H timeframe for BTCUSD:

We have our "local resistance" which you already know but, will it continue lower?

A bounce can happen at any support level just as a retracement can happen at any resistance level.

Bitcoin grew by ~20% from ~$32,500 to ~$39,250.
Resistance pushed prices lower.

We are now between 0.382 and 0.618 Fib. retracement levels.
That is between $36,850 and $35,350; the next support.

Looking at the 1H chart, the bears are trying to gain momentum putting pressure lower.

Here:

Thanks for the continued support.

Namaste.

Bình luận:

Local resistance broken.
Wait until after Monday for confirmation.