What's up traders, I hope you are all having a wonderful weekend.
Here we are analyzing BTC/USD on the 4H chart.
I posted a BTC/USD analysis a week ago, and the dynamics of the trade have changed. So I am eager to update this analysis.
At current, price is trading at 9580, after a corrective down move after a peak at 11780, which was the horizontal resistance zone.
Price will now likely test the side-wards support at 9420. Coupled with the fact that price will likely test the major moving average support at 9750. If it retests this level on a higher time frame with a reversal candle, this is the perfect entry point.
I am expecting Bitcoin to retest the side-wards support at 9420 at least. There is also the possibility it can break this level, as well as the moving average support, and break down further to lower support at 7990.
Bare in mind, that I'm expecting more upside in the longer term.
I will update this analysis when I receive above 40 likes.
Here we are analyzing BTC/USD on the 4H chart.
I posted a BTC/USD analysis a week ago, and the dynamics of the trade have changed. So I am eager to update this analysis.
At current, price is trading at 9580, after a corrective down move after a peak at 11780, which was the horizontal resistance zone.
Price will now likely test the side-wards support at 9420. Coupled with the fact that price will likely test the major moving average support at 9750. If it retests this level on a higher time frame with a reversal candle, this is the perfect entry point.
I am expecting Bitcoin to retest the side-wards support at 9420 at least. There is also the possibility it can break this level, as well as the moving average support, and break down further to lower support at 7990.
Bare in mind, that I'm expecting more upside in the longer term.
I will update this analysis when I receive above 40 likes.
