Bitcoin is in a correction phase after recently reaching $19,750. BTC is undergoing a technical correction, so the price is likely to drop in the coming hours toward the 21SMA located at 117,744.
On the H4 chart, Bitcoin is in a consolidation phase, and strong resistance is observed around $121,000 and $120,000, which represents the psychological landmark.
A drop in Bitcoin below 117,400 could signal a further bearish movement, potentially reaching the 5/8 Murray level at 115,625. The crypto could eventually reach last week's low around 114,700.
Bitcoin is expected to continue trading within this price range in he coming days, so we will look for opportunities to sell below $121,000 and buy above $115,000.
Key support levels to watch for the next few hours are the 21SMA located around 117,4000, the 5/8 Murray at 115,625, and the 21SMA around 114,249.
Key resistance levels are 120,200, and finally the 7/8 Murray around 121,875.
On the H4 chart, Bitcoin is in a consolidation phase, and strong resistance is observed around $121,000 and $120,000, which represents the psychological landmark.
A drop in Bitcoin below 117,400 could signal a further bearish movement, potentially reaching the 5/8 Murray level at 115,625. The crypto could eventually reach last week's low around 114,700.
Bitcoin is expected to continue trading within this price range in he coming days, so we will look for opportunities to sell below $121,000 and buy above $115,000.
Key support levels to watch for the next few hours are the 21SMA located around 117,4000, the 5/8 Murray at 115,625, and the 21SMA around 114,249.
Key resistance levels are 120,200, and finally the 7/8 Murray around 121,875.
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DAILY FREE SIGNAL. FREE SIGNAL (95% accuracy) TP AND SL PROVIDED
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
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In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
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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.