Bitcoin Levels To Watch For (4H TimeFrame) + 2 Scenarios
After moving away from the 1H timeframe chart, we have the 4H for BTCUSD.
Here we can get a better picture at our "local resistance", in this case we can see it clearly as EMA100 or the blue line on the chart.
Every since the 24-Jan. we have higher lows on this chart.
The "EMA100 RESISTANCE" is being challenged over and over.
The more a resistance level is challenged the weaker it becomes.
We have many attempts at EMA100 so this resistance should be becoming weaker.
Here is how it will go.
Scenario 1) Bitcoin can break above this level if the bulls keep pushing.
Scenario 2) On another rejection, we can see a test of support and then another try at resistance.
We have some mixed signals/feelings here with this ascending triangle but at the same time strong resistance... Patience is key.
Leave us a comment, share, follow & like to show your support.
Namaste.
Here we can get a better picture at our "local resistance", in this case we can see it clearly as EMA100 or the blue line on the chart.
Every since the 24-Jan. we have higher lows on this chart.
The "EMA100 RESISTANCE" is being challenged over and over.
The more a resistance level is challenged the weaker it becomes.
We have many attempts at EMA100 so this resistance should be becoming weaker.
Here is how it will go.
Scenario 1) Bitcoin can break above this level if the bulls keep pushing.
Scenario 2) On another rejection, we can see a test of support and then another try at resistance.
We have some mixed signals/feelings here with this ascending triangle but at the same time strong resistance... Patience is key.
Leave us a comment, share, follow & like to show your support.
Namaste.
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Namaste.