Bitcoin Trading Setups

#BTCUSD #Bitcoin #Bybit #Tommy #1hr
- Here is BTCUSD Bybit 1hr. It just broke the red upward trendline and is making a long tail. Not a surprise.
- A support area has been confirmed at 0.618~0.705 retracement of the previous impulsive wave. It’s also around the bottom of the black channel.
- If Bitcoin shows more bounce movement, we can expect some resistance around 9245~9275.
- If it reaches that resistance area within 4hours, entering short position with stop loss at 9285 might be a decent trading setup.