BTC/USD (4H TF 50ma Dynamic Support Bounce up?)

22 Nov 2020

💎Technical Analysis Summary💎


BITSTAMP: BTCUSD


-My previous idea on the 1H time period has failed for Bitcoin
-We zoom out to the 4H time frame to look for dynamic areas or key support
-We can see BTC respected the 50ma 4H dynamic support at least 4 times
-If history will repeat itself, Bitcoin might do the same action
-This idea will not work 100% all the time
-So please make sure you have a proper stop loss location
-If in case Bitcoin decided to break the 50ma zone
-Take note also of the middle Fib resistance 0.5
-This level must be broken upward if the Bulls wants to continue higher



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