Hello traders, I hope you all are doing well. Here's a quick update on BTC in 4 hours timeframe.
BTC has been under a big pressure lately but it managed to get out of it after a long 7.3% pump. This bounce brought a small relief to the market and if we see the chart then it actually broke out of the resistance trendline. This could be a good thing for BTC and the market but only if we see a bounce back from this level. The current scenario looks like a retest and BTC could possibly bounce back. A breakdown below the upper trendline will invalidate the bullishness in BTC.
Still, we have 2 hours left so let's see what the next candle will bring.
Thank you so much for reading. Trade safely.
BTC has been under a big pressure lately but it managed to get out of it after a long 7.3% pump. This bounce brought a small relief to the market and if we see the chart then it actually broke out of the resistance trendline. This could be a good thing for BTC and the market but only if we see a bounce back from this level. The current scenario looks like a retest and BTC could possibly bounce back. A breakdown below the upper trendline will invalidate the bullishness in BTC.
Still, we have 2 hours left so let's see what the next candle will bring.
Thank you so much for reading. Trade safely.
