Bitcoin Analysis 4H on 21.09.2023
BTC dumped heavily today after many days of bullish movement. It broke through its daily pattern, weekly resistance, and even 4H support before finding some reprieve. This dump was likely caused by the stock market's poor performance today.
Despite the dump, I still believe BTC is bullish. It did not retest the 4H support after breaking it, and it is now back within its 4H range. This suggests that the dump was a temporary setback and that the overall bullish trend is still intact.
I will be waiting for the daily candle to close to see if we need to switch to a bearish market view. However, for now, I am still bullish on BTC.
I will continue to monitor the price action and update my analysis as needed.
Please note that this is just my opinion and should not be taken as financial advice. Do your own research before making any trading decisions.
Despite the dump, I still believe BTC is bullish. It did not retest the 4H support after breaking it, and it is now back within its 4H range. This suggests that the dump was a temporary setback and that the overall bullish trend is still intact.
I will be waiting for the daily candle to close to see if we need to switch to a bearish market view. However, for now, I am still bullish on BTC.
I will continue to monitor the price action and update my analysis as needed.
Please note that this is just my opinion and should not be taken as financial advice. Do your own research before making any trading decisions.
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