#Bitcoin Support and Resistance in 1 Hour Timeframe
Updated
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Using a simple support & resistance method, we can see that these two lines: SR1 and SR2 are important for Bitcoin's price action. We recently broke down the SR1. To confirm this breakdown, we need to test SR1 as resistance. The next support is at SR2. This support is also near the target area for our rising wedge (see related idea below)
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Thank you for considering reading my idea.
Using a simple support & resistance method, we can see that these two lines: SR1 and SR2 are important for Bitcoin's price action. We recently broke down the SR1. To confirm this breakdown, we need to test SR1 as resistance. The next support is at SR2. This support is also near the target area for our rising wedge (see related idea below)
Thank you for reading my idea. Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Follow me on my Twitter as well linked below.
Cheers,
Juvs
Note
Fake out But a test of resistance in our major bear flag
Note
Last time, we broke SR1 but did not find support. Now that we broke down on it again, are we now going to see resistance in SR1?
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