Hello investors 📊, traders📐 and HODLERS🔗,
An introduction:
We did it! Bitcoin finally broke above the 50,000$ psychological resistance!
Today we are diving in the 4 hour time frame to discuss what could be expected off this upper trend!
#Bitcoin (BTC)
Timeframe: 4 hour
Trends:
T-1: Trend 1 - Supporting the price action after BTC broke the 415000 former resistance.
T-2: Trend 2 - The trend that supported the former ATH breakout
Resistance:
R-1: 53,500
Support:
S-1: Support - 41,500
S-2: Support - 43,900
S-3: Support - 46,000
S-4: Support - 50,000
Fibonacci levels:
F-1: 48,224 - Stopped the ascending movenment of BTC after breaking 41,500.
F-2: coincides with S-2, at the 43,900, supporting the price of BTC after the first encounter with F-1.
F-2: 53,500 - the 1 fib level which could represent a possible resistance for BTC.
The Fear & Greed Index
The big picture:
With BTC at is ATH, we are facing unknown territory. It could try to push to the 53,000 or even the 55,000 level (if we trace the FIB from the point it jumped, which constitutes a good psychological price level) or it could correct to the support levels.
The fearandgreed index is high again as expected since we climbed almost 10,000 USD in value! Be carefull with your trades.
Still I would say the 41,000 is a solid support.
My advice would be to keep updating the soploss levels as BTC climbs, making sure you follow the trend. And again, bearing in mind that the 53,000 is an important level for BTC.
The holle analysis was executed on #TradingView. Head up to TradingView to find the most user-friendly and complete chart analysis platform!
>> TradingView <<
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Disclaimer :
I am NOT a certified analyst.
This are high risks, mostly unregulated, digital assets.
This is a world of
Allways have a plan B.
You should always do your own research (DYOR)!
Invest only what you can afford to loose.
Allways have a plan C.