Bitcoin (BTCUSD) just hit the top of its 2-week Channel Up, closing the latest 4H candle exactly on its Top (Higher Highs trend-line). This opens up an technical break-out or rejection scenario for BTC.
If it closes a 4H candle above the Channel Up, we will have a bullish break-out, potentially targeting Resistance 2 at $67250. If on the other hand it gets rejected, the Channel Up can technically initiate a new Bearish Leg, aiming for yet another -4.41% correction, potentially targeting $63500 at least. Notice also that the 4H RSI hit its own Resistance Zone.
So, which scenario do you think will prevail? Feel free to let us know in the comments section below!
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If it closes a 4H candle above the Channel Up, we will have a bullish break-out, potentially targeting Resistance 2 at $67250. If on the other hand it gets rejected, the Channel Up can technically initiate a new Bearish Leg, aiming for yet another -4.41% correction, potentially targeting $63500 at least. Notice also that the 4H RSI hit its own Resistance Zone.
So, which scenario do you think will prevail? Feel free to let us know in the comments section below!
---
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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For Crypto trading I use WhiteBIT: low fees, deep liquidity & advanced futures 👉 tradingshot.short.gy/WhiteBitTrade
For Forex trading I use TradeNation: fixed spreads & zero commissions 👉 tradingshot.short.gy/Tradenation
For Forex trading I use TradeNation: fixed spreads & zero commissions 👉 tradingshot.short.gy/Tradenation
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.