BTCUSDT needs the new Higher High!
Updated
the price had a nice reaction yesterday due to the FOMC and now the market is testing the weekly resistance as new support 40660 it's an important level for Bitcoin.
On the Daily timeframe, the price is trying to create a new Higher High above the 4h resistance (42k)
On the lower timeframe (4h) the price is trying to have a new breakout from the pennant.
How to approach?
The price needs to create a new Higher High on 4h Timeframe above 42K with confirmation and Volume. Otherwise If the price is going to lose the 39k, The previous scenario (the short one) comes back and the next valid support is 34-32k
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
On the Daily timeframe, the price is trying to create a new Higher High above the 4h resistance (42k)
On the lower timeframe (4h) the price is trying to have a new breakout from the pennant.
How to approach?
The price needs to create a new Higher High on 4h Timeframe above 42K with confirmation and Volume. Otherwise If the price is going to lose the 39k, The previous scenario (the short one) comes back and the next valid support is 34-32k
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Comment
The price needs to hold the weekly support on 40k, grab the liquidity and create a new Higher HighDon't miss it!
Comment
the price is testing the 0.5 Fibonacci level on the 4h timeframe and weekly support.We need to see a clear breakout from the descending resistance and 4h resistance.
Comment
nice breakout from the dynamic resistance so farComment
50% since my call.Now the price need to have a new breakout
Comment
The price is following my drawing so far! a clear 5% since my idea.
Now the market needs to create a new breakout with Volume and a daily close above 43k.
let's see!
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