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.
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.
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🔥 New Lowest Pricing Ever ➖ Easy PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
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