Micro Bitcoin Futures (MBT1!), H4 Potential for Bullish Rise

ype : Bullish Rise
Resistance : 27225
Pivot: 24315
Support : 22395

Preferred Case: On the H4, with price moving within a bullish channel as well as above the ichimoku indicator and RSI moving along an ascending trendline, we have a bullish bias that price will rise to our pivot at 24315 where the overlap resistance is. Once there is upside confirmation that price has broken pivot structure, we would expect bullish momentum to carry price to 1st resistance at 27225 where the 61.8% fibonacci retracement , -61.8% fibonacci expansion and 161.8% fibonacci extension are.

Alternative scenario: Alternatively, price could drop to 1st support at 22395 where the pullback support, 61.8% fibonacci retracement and 61.8% fibonacci projection are.

Fundamentals: As BlackRock launches spot bitcoin private trust for US clients, we have a bullish view on Bitcoin .