Looking at the market depth, a huge number of sellers (440) are piling up on the 4,400 price levels. Seems to me that a double top pattern is forming as long as it doesn't break that yellow slope/uptrend line.
If buying pressure increases and the price stays above the slope, then BTC can move higher.
If buying pressure increases and the price stays above the slope, then BTC can move higher.
Note
Could go to 4600, where a total of 790 BTC sell orders are waiting. Or to 4800, with a total of 360 BTC sell orders.
Note
Must maintain its momentum above the slopeNote
Falling?Note
Note
Must stay near the support slope or else it could go down.Strong resistance: 4400
Strongest support: 3500
Note
If it breaks the supply zone between 4400-4500, then we could see higher highs. If not, BTC could move sideways until another big move happens.
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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.