BTCUSD Analysis 13/02/2022 4hr

2022년 2월 13일

Update:

we had the nice run up followed by the usual pullback, question is where is price likely to go now. currently holding this support which was previously a consolidation channel. so it is nice to see it holding up for the moment.

however, the more times a support is tested the higher the chances we will break and there are so many targets for the downside scenario.

if we break this line then I do think the blue line will hold as well at least for a a couple of tests. I also think if we don't see a retest on the yellow line, a break of the blue line will be the perfect short entry.

in terms of structure we have made higher lows and lower highs which indicates we are in a narrowing channel probable forming a triangle for a breakout. as you can see and I think we should actually have a nice break. I honestly can't tell which direction I think it is going. the market sentiment is bearish so I would probably go for a move to the downside. but trading the breakout means you don't need to favour a direction just trade what the chart shows us.

with the volume coming in on Monday we should see a nice push to one direction so lets see but so far this is what im looking at for BTC