BTCUSDT clearly got rejected from the 4h resistance 2 zone marked on the chart. Currently it is struggling to hold the 4h resistance 1 zone from where it broke out and attempted to break next resistance zone. The price will momentarily bounce here as current zone marked as 4h resistance 1 zone will act as a support.However, a next hit to this zone will let the price flow towards the next 4h support area.
Note
So looks like step L3 (marked on the chart) is in progress. Probability is higher for thus push to be rejected by the 4h resistance zone around 24580.Note
Forgot to put the updated chart there with step L3.Note
Well, it seems we are right on the track. The 4h resistance 1 zone did push back the price from there completing step L3 and now we are on the path indicated by S2.Trade closed: target reached
The price almost hit the 4h support zone and bounce from there. And again hit the 4h resistance 1 zone. Currently price is consolidating under that resistance zone.
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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.