Bitcoin has a bullish structure on both the daily and the 4-hour chart. The retracement to $27.2k collected liquidity and the bulls have since driven prices to $27.6k.
The H4 bullish breaker block at $27.2k was respected as support so far. Given the daily structure, a consolidation around the
27K region over the weekend before another leg higher was possible. The OBV has inched higher over the past week, showing the bulls had a slight advantage
Entry: $27.4k (another revisit to27K or lower was possible)
Take-Profit: $29.6k (local resistance on the 1-day chart)
Invalidation: $26.6k (a move below the bullish breaker block)
The H4 bullish breaker block at $27.2k was respected as support so far. Given the daily structure, a consolidation around the
27K region over the weekend before another leg higher was possible. The OBV has inched higher over the past week, showing the bulls had a slight advantageEntry: $27.4k (another revisit to
27K or lower was possible)Take-Profit: $29.6k (local resistance on the 1-day chart)
Invalidation: $26.6k (a move below the bullish breaker block)
Note
We saw a retracement to $27.4k on Monday, and it remains to be seen whether the bulls can drive a recoveryNote
idea invalidated as BTC fell below the H4 bullish breaker, could be time to look for shorting opportunities for BTC or especially for weak altcoins
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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.
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.