Important levels for the Bitcoin bulls to hold.
Price has pulled back on the H1 and closed the liquidity gap to the downside (red circle). Sitting on top of Daily support buyers have stepped in and closed the inefficiency to the upside. Typically these are used as resistance on the way up and price continues in the direction of the macro trend. This hasn't. Now - Price is holding support above and quite often you'll find bulls protecting their positions using the high of the gap. If this holds we are heading higher looking for the money laying above the two double tops to left (red x). If it loses support here you can expect the daily level to be retested and likely price will continue to breakdown.
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.