Bitcoinprediction
Bitcoin 4 Hrs Chart Support And Resistance Levels.In this 4 hrs. Technical Chart I'm trying to Show Support And Resistance Levels.
4hrs Chart Shows BTCUSD Take Support @ $30066 After That Near $53800++ Strong Resistance.
If That Resisteansce Work Then BTCUSD Will Crash Near $17000 If This Support Work Then As Per the Chart Shows we Need To Breakout $46000++ After That Upside Target Open.
Let's Hope For The Best!
BTCUSD a new impulse growth or completion of IHSThis is an update to recent BTC analysis.
At 4-hour timeframe we can see that the price went out of the local descending channel via impulse growth waves. Subsequent corrective Elliott ABC movements brought the price at the upper edge of the channel.
If we take a closer look it can be seen that there are several positive signs:
1. Stoch RSI moves to Oversold zone
2. EMA 20 line which was a resistance after Moving Averages intersection became a support which is great for short term
3. After consolidation the price went up again which can be evaluated as 0-1 Impulse wave and the most important is that it bounces above the critical area where this assumption will be rejected.
Conclusion: if the price manages to bounce above $4 200 then we will have a new 5 impulse growth waves. Otherwise previous analysis holds and there should be movement to finish IHS