Auf geht's
Bitcoin
Long

Let's see what happens up around 61.5

Von prefabsprout
Aktualisiert
Need to break 61.5 and then around 68 to lift off to ATHs. If we break down out of this we will be looking for support at the bottom of the larger channel.

Please post your comments, curious to get feedback.
Anmerkung
on this 4h timeframe we will need to see a push back into the range to negate today's rejection.
Anmerkung
We can see this two ways:

1. (more likely) this is a dead cat bounce where the support has become resistance. further bull blood coming very soon.

2. btc wants to break back into the pennant meaning this was just another cruel bear trap and we will be back up testing 61 again soon. (more likely than you'd think, given the history of these sort of swing trader traps both ways). this btw does not mean we will come out of this pennant bullish in the end btw. in fact a bull trap could be coming later this week or next.
Anmerkung
it really loves this lower trendline, can it break towards the upper and breakthrough? weekly opens have been bullish lately...
Anmerkung
other ideas i respect indicate a move up to 61+ will lead to a breakout to around 62.7. that could just be a bull trap however even if it happens. would need to see serious confirmation monday morning.
Anmerkung
just teetering on the brink forever here. could easily give way either way.
Anmerkung
in 20 minutes a close up here will establish a return into the body of the pennant, took awhile but got there. will it test the upper resistance next?
Trade ist aktiv
if we break and hold above 60 here today, there is a very strong case for a bullish week ahead.
Trade wurde manuell geschlossen
pretty definitive rejection. will look to the daily to get better vision of where the market is headed tomorrow morning.
bitcoinpriceBTCUSDcryptomarketSupport and ResistanceTrend AnalysisTrend Lines
prefabsprout

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