BITCOIN / UNDER BULLISH PRESURE - 4H
Updated
BITCOIN
HELLO TRADERS
TARGET LEVEL :
HELLO TRADERS
- Tendency , the price is under bullish pressure , until trading above turning level at 55,101 .
- Turning Level: The price is currently trading above this level around 55,101 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
- support Level (1) : around 51,322 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 55,101 . If the price reaches 51,322 , and stabilizes below it, it will likely attempt to reach support level (2) .
- support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 47,703 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 44,845 .
- Resistance Level (1): As long as the price remains above the turning level of 55,101 , it suggests a rising towards 61,267 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
- Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 65,742 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 69,670 .
- Channel Trend: the trading rate within the descending channel .
TARGET LEVEL :
- RESISTANCE LEVEL : 61,267 , 65,742 , 69,670 .
- SUPPORT LEVEL : 51,322 , 47,703, 44,845 .
Trade active
UPDATE
reached first target +260pip .
currently price trading below resistance level (1) , in my opinion retest to reach turning level after rising to reach next target at 65,742 .
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