Updated

Bitcoin - The 5 Structure Resistance Levels

Currency Pair: BTC.USD
Time Frame: Daily
Predicted Direction: N/A

Live BTC.USD updates will be available in the comments section below.

Note

I just wanted to clear up a couple of questions.

Currently price is rejecting the 4hr 50EMA, should we accelerated away from this level ( to the downside ) then i see price testing $6,000 once more, if we break the 4hr 50EMA then look to the daily TF above which is the 1st resistance where price is likely to test.

Note

Price testing the 4hr 50EMA for the second time, a couple of hours yet until the candle closes so something to keep an eye on.

Note

1hr bearish RSI divergence as price runs into 4hr 50EMA resistance, downside is possible in the coming hours.

Note

Price has now once again rejected the 4hr 50EMA,
Should price break and close below $7450 i see a short opportunity.

Note

Price is now testing the 1st level of resistance from the descending trendline.

Note

Should price break and close below $8120 i expect a second retest of $6,000

The break and close below $8120 would mean the 1hr ascending trendline, 1hr 50EMA & 4hr 50EMA would be breached aswell as forming a high-test rejection candle on the Daily timeframe confirming resistance 1.

Note

Perfect rejection of 1st resistance level on the Daily timeframe.
Price has now broken ascending 1hr trendline as expected.

Note

Short opportunity now available.

Bitcoin Multi-Timeframe Short Opportunity

Note

A trade opportunity to keep an eye on :-)

Bitcoin - Proper Planning Prevents Poor Performance (5ps)

UnknownUnicorn180388

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.