BitcoinShort
BTC - H1 - TRADING IN THE ZONE - ONGOING BEARISH PRICE ACTION
H1 : Failure to hold above the Uptrend support line (UTS 1) triggered selling pressure which pushed
the BTC down towards 46133, slighly below the former low of 46231 (last H1 closing @ 46535)
Therefore, I would suggest to check carefully the upcoming H1 price action to see if we will stay
above the 46200 area (watch M15 and M5 for confirmation on invalidation)
A breakout of the 46200 would put the focus on 45700 ahead of 44900 and 43746 (Feb 10th low).
On the upside, in order to neutralise the downside risk, BTC should quickly recover above the former
UTS 1 as such kind of price action would invalidate the tactical trend reversal in this time frame
the BTC down towards 46133, slighly below the former low of 46231 (last H1 closing @ 46535)
Therefore, I would suggest to check carefully the upcoming H1 price action to see if we will stay
above the 46200 area (watch M15 and M5 for confirmation on invalidation)
A breakout of the 46200 would put the focus on 45700 ahead of 44900 and 43746 (Feb 10th low).
On the upside, in order to neutralise the downside risk, BTC should quickly recover above the former
UTS 1 as such kind of price action would invalidate the tactical trend reversal in this time frame
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