BTCUSDT
4H
The 4H trend for Bitcoin is still looking very strong with price holding the 20 and 50EMA. If we break this trend and the 4H 50EMA i would expect the scenario in the previous daily chart to play out.
Looks for a change in behavior and break in market structure.
1D
Daily
Bitcoin is looking very strong here on the Daily and I would not be surprised if we just break above this last resistance before ATHs and continue up for a while.
But we have to remember we are currently at resistance and the Daily chart looks a bit overextended. If we see a rejection here it would make perfect sense to see a retrace back down towards the Daily 20EMA (Blue) or Daily 50EMA (Grey) where we also have the 50% fib.
This idea would be invalidated if we see a break into new ATHs
CORRECTION SHOULD TAKEPLACE AROUND 58K
The 4H trend for Bitcoin is still looking very strong with price holding the 20 and 50EMA. If we break this trend and the 4H 50EMA i would expect the scenario in the previous daily chart to play out.
Looks for a change in behavior and break in market structure.
1D
Daily
Bitcoin is looking very strong here on the Daily and I would not be surprised if we just break above this last resistance before ATHs and continue up for a while.
But we have to remember we are currently at resistance and the Daily chart looks a bit overextended. If we see a rejection here it would make perfect sense to see a retrace back down towards the Daily 20EMA (Blue) or Daily 50EMA (Grey) where we also have the 50% fib.
This idea would be invalidated if we see a break into new ATHs
CORRECTION SHOULD TAKEPLACE AROUND 58K
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