⚠️⚠️⚠️ BITCOIN 🧭 Multi-Timeframe Outlook w/ 15m Support
💬 Bitcoin still looks strong despite being rejected pretty hard at 12k. Let's take a look at some key levels for Bitcoin to see what's next for the king of crypto.
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Summary:
What the bulls need is to break past R1 and leave all those previous ranges behind to show they have what it takes to keep going. Good luck bulls!
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- Support:
- S1: The S/R flip here is a valid support level, and there is a lot of support below this level as well. However, the bulls will be much better off focusing on breaching resistance than they will retesting support to at best form a new range and at worst risk a breakdown.
Resistance: - R1: This orderblock range acted as resistance on the move up and it is our first point of resistance here as well. This is until we have broken above it with conviction, an S/R flip of this would be nice to prove that we have more buyers looking to accumulate.
- R2: A move up past R1 to R2, with consolidation between R1 and R2, would also be ideal for the bulls. The market structure created by this as opposed to a retest of S1 is far more ideal.
- R3: The orderblock range at the previous high is surely going to provide some resistance if and when Bitcoin makes it this far.
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Multi timeframe:15m BTC Resistance:
- S1: This orderblock range is where we are looking for support in the here-and-now. We have already put in some higher lows, what we expect is a move similar to the ABC on the chart which could include for example a retest of the lower range which leads to the previous high. This is the sort of price action that could lead us to a break of R1.
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Summary:
What the bulls need is to break past R1 and leave all those previous ranges behind to show they have what it takes to keep going. Good luck bulls!
✨Drop a comment asking for an update, we do NEW setups every day!✨
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