Whats up traders,
Here we have BTC/USD on the 4H chart.
Price recently broke a long term side-wards resistance structure at around 13600. Moving forward, price continued to upside.
At this present moment, it appears BTC/USD is losing steam after the breakout of structure, and it looks like BTc/USD is having a correction move to the downside.
I am expecting price to correct and retest the previous side-wards resistance as a new support and a new up move to ensue. However, if price fails at the sideways support line, there could be a steeper price correction to the previous support zone. (between 11000 and 11900)
There was lots of demand in my private inbox and comments for my to update my BTC/USD analysis, so I have taken the time to share my thoughts here now. I would really appreciate it if you could all leave a like & comment. These are my entire motivation to post more content.
I have also tagged my other recent Cryptocurrency ideas in the related ideas. See the related ideas at the bottom of this post.
I will be updating this analysis as it progresses.
Here we have BTC/USD on the 4H chart.
Price recently broke a long term side-wards resistance structure at around 13600. Moving forward, price continued to upside.
At this present moment, it appears BTC/USD is losing steam after the breakout of structure, and it looks like BTc/USD is having a correction move to the downside.
I am expecting price to correct and retest the previous side-wards resistance as a new support and a new up move to ensue. However, if price fails at the sideways support line, there could be a steeper price correction to the previous support zone. (between 11000 and 11900)
There was lots of demand in my private inbox and comments for my to update my BTC/USD analysis, so I have taken the time to share my thoughts here now. I would really appreciate it if you could all leave a like & comment. These are my entire motivation to post more content.
I have also tagged my other recent Cryptocurrency ideas in the related ideas. See the related ideas at the bottom of this post.
I will be updating this analysis as it progresses.
Please leave a like. It motivates me to post more content. :)