#Bitcoin_Update #4H
Bitcoin 4H time frame chart showing a test at on the key price level of a support at $9011 and this must be a taken as a key point for Bitcoin. If it closes below this key price level we will heading to test the next support area at $8724. In general there 2 main scenario's to occur at the current trend.
Scenario 1 : Break out for a correction and this correction might even go further for an ABC correctional wave formation.
Scenario 2 : Reverse back for another leg up to test our current resistance price level at $9475 which might see a rejection once again for a H&S creation and for a bull run like the past two H&S formations for a test of the next stronger resistance price levels at around $9800 and $10000.
RSI and MACD in favor of the bears for the short run for now. and EMA[20] is also trending on the way to the bearish side.
Our conclusion is we still can't confirm the next move unless we see some more chart formation indications but the close of the current or maximum the next 4H candlestick formation will tell us where Bitcoin will move in the short run.
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With Regards.