BTC/USDT : Possible pullback or rejection to 54K ?

26 ott 2021

BTCUSDT
Hello everyone 😃
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#BTC has pulled back from the major 4H's support zone and now it's moving above the breaker line.
It's formed a bullish order block on 2H's chart below the breaker line and it just retest it on current candle.
The main idea will be a pullback from this support and break above the S/R line.
But there'll be a chance for bears to reject the pair below the zone and dump it to 4H's support zone !

- The movement will be bullish till the rejection happen and #BTC close 3 candles below the support zone.
In that case, Pair will drop to the 4H's support zone to retest the EMA200 and Current beginning master candle ( We may experience a candle's wick in $57095.82 - $59453.75 area ).
🔴 Also Bears can lead the pair below the 4H's support zone and dump it till 54K's support zone... ( The trigger will be the same as higher rejection ).

📊 Now bias is bullish and we are looking for a retest on S/R line or a breakout above it.
- If #BTC take hold above the S/R line, Then we'll experience another leg up to ATH's resistance and it'll be the 2nd attempt to break above it.
Based on 3rd breakout rule, There's low possibility for #BTC to break above the ATH's resistance on the next attempt, But if it happens then you can enter on a retest on the broken ATH and hold it till 70K's FIB extension target or 74K's main target.


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Have a good day!
Helical_Trades