BTC Respecting Our Support and Resistance Levels!

As you can see from our previous post, BTC rejected from the top of our upwards channel on the 4h (combined with a sell signal from Wave Fusion) and bounced PERFECTLY off of our 200 EMA and horizontal support at $17,300. This was the level I mentioned in my last idea and it's good to see it come to fruition.

Now I'm expecting Bitcoin to climb back to $17,640 and retest that resistance before a second visit to $17,300 for a possible double bottom. If we break $17,640, then $18,200 is our next target (top of the channel). If we break our support at $17,300 then $16,700 in the next major level of support.

If you enjoyed my TA or had any questions about the indicators used, please leave a comment or send me a PM :)