Bitcoin - The 5 Structure Resistance Levels

Updated

Currency Pair: BTC.USD
Time Frame: Daily
Predicted Direction: N/A

Live BTC.USD updates will be available in the comments section below.

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I just wanted to clear up a couple of questions.

Currently price is rejecting the 4hr 50EMA, should we accelerated away from this level ( to the downside ) then i see price testing $6,000 once more, if we break the 4hr 50EMA then look to the daily TF above which is the 1st resistance where price is likely to test.

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Price testing the 4hr 50EMA for the second time, a couple of hours yet until the candle closes so something to keep an eye on.

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1hr bearish RSI divergence as price runs into 4hr 50EMA resistance, downside is possible in the coming hours.

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Price has now once again rejected the 4hr 50EMA,
Should price break and close below $7450 i see a short opportunity.

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Price is now testing the 1st level of resistance from the descending trendline.

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Should price break and close below $8120 i expect a second retest of $6,000

The break and close below $8120 would mean the 1hr ascending trendline, 1hr 50EMA & 4hr 50EMA would be breached aswell as forming a high-test rejection candle on the Daily timeframe confirming resistance 1.

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Perfect rejection of 1st resistance level on the Daily timeframe.
Price has now broken ascending 1hr trendline as expected.

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Short opportunity now available.

Bitcoin Multi-Timeframe Short Opportunity

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A trade opportunity to keep an eye on :-)

Bitcoin - Proper Planning Prevents Poor Performance (5ps)

UnknownUnicorn180388

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