BTC is now forming in a bigger symmetrical triangle on the 4hr chart with an expected price movement towards
-21000 (break upside)
-17200 (breaks downside ,which is also a resistance level with multiple touchpoints)
BTC is still holding well above the 4hr ema ribbon, which if there is a confirmation break below the 4hr ema ribbon (18670) it would initiate more downside.
Major Resistance
Highlighted in purple box, is a major resistance from 18.7 to 18.4k. If breaks below 18.4k BTC is looking to test lower levels at 17.2 / 16.4 / 15.8
-21000 (break upside)
-17200 (breaks downside ,which is also a resistance level with multiple touchpoints)
BTC is still holding well above the 4hr ema ribbon, which if there is a confirmation break below the 4hr ema ribbon (18670) it would initiate more downside.
Major Resistance
Highlighted in purple box, is a major resistance from 18.7 to 18.4k. If breaks below 18.4k BTC is looking to test lower levels at 17.2 / 16.4 / 15.8