Technical Analysis on the 1 hour time frame is currently providing great details and clean price structure to analyze. In this chart, BTC is in a consolidation range between 9800 and 8800 with minor support / resistance in between. Wicks provide details of supply and demand. Price structure shows resistance above 9500, at which point longs could certainly be considered.
BTC has broken out of a Sell Zone and into a Buy Zone based by looking at the 1 hour trend line. A break and retest above 9500 will prove a signal for additional buyers to enter.
BTC has broken out of a Sell Zone and into a Buy Zone based by looking at the 1 hour trend line. A break and retest above 9500 will prove a signal for additional buyers to enter.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.