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Higherhighs

BTC Retesting a Major Trendline-Getting ready for the Next MoveBINANCE:BTCUSDT BYBIT:BTCUSD INDEX:BTCUSD Bitcoin has been trending upwards in an upwards sloping channel since 19 June 2022, and there are a few key areas and support levels to look out for over the next few days and weeks. Certain levels need to be held for us to make highs above $25000. In this technical analysis I give a few scenarios that could play out. Not Financial Advice. DYOR. Papertrade before trading with real money. If you liked this idea, please give it a thumbs up and follow. Comment on how you are trading BTC right now. Safe trading! Shawn
BYBIT:BTCUSD.P
by zartraderguy
BTCUSDT needs to create the new Higher high! the price bounced on the 33k area on the monthly support and got the liquidity until the 0.382 Fibonacci level as new resistance. On the weekly timeframe, the price is testing the dynamic support. On the daily timeframe, the price had a breakout from the dynamic support and now the price is testing the previous support as new resistance. On the 4h timeframe the price had a breakout from the falling wedge and now it's trying to create a new higher high. How we can approach it? For a bullish scenario, the price needs to create a new higher high from that area above the 0.5 Fibonacci level (41k) with volume and momentum. IF the price is going to lose the 4h support we could see a new bearish impulse until the next demand zone
Short
by InkyGrip
14
BTCUSDT needs to create a new Higher HighBitcoin close above the 40k on the weekly perspective, it's a good sign. On the 4h time frame, the price failed to create a new Higher High of 43k. We could see a bullish scenario if the price is going to create a new higher high with volume and confirmations as I told you in the previous analysis. on 43k we can see the supply zone. Otherwise, if the price is going to lose the 40k support and retest it as new resistance, the next support is the 37k. –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
by InkyGrip
8
BTCUSDT needs the new Higher High!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.
Long
by InkyGrip
4