Bitcoin Technical Analysis 4H - 2020-01-12
Currently Bitcoin is between 30K support area and two resistance area in 35K and 41K. Two scenarios are in font of Bitcoin right now. Although first Scenario is more probable, considering volatile market in these days we strictly advice to watch market carefully and open positions with Stop Loss.
Scenario 1 (Bullish)
Presented with blue arrows. It is possible for bitcoin to pass through 35K resistance area and immediately or after bounce back to 35K be able to pass through 41K. In this Scenario first target is 44.5K and second target is 47.5K
Scenario 2 (Bearish)
Presented with orange arrow if bitcoin won`t be able to pass through 35K resistance area with break of neck line and 30K support, head and shoulder pattern will be completed and a dive to 24K is probable.
Scenario 1 (Bullish)
Presented with blue arrows. It is possible for bitcoin to pass through 35K resistance area and immediately or after bounce back to 35K be able to pass through 41K. In this Scenario first target is 44.5K and second target is 47.5K
Scenario 2 (Bearish)
Presented with orange arrow if bitcoin won`t be able to pass through 35K resistance area with break of neck line and 30K support, head and shoulder pattern will be completed and a dive to 24K is probable.
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.