Bitcoin Free Trading Setup

#BTCUSD #Bybit #1HR #Tommy
- Here is BTCUSD 1hr. Right now top of the red parallel channel is acting as a major resistance, or the down trendline.
- In a short term perspective, 8750~8810 where the recent side way volumes are located, it also acting as a resistance if Bitcoin can break this area above, we can expect some bullish waves.
- If Bitcoin breaks the red channel above in 4 hours from now, 8870~8920 could be a decent resistance area to consider.
- Within 19 hours from now, if it does break the channel above, 8870.0~8920.0 would be a appropriate entry point for short position.
- On the other hand, if we get to see another lower low, the bottom parts of the channels that I have drawn on the chart would be acting as a great support. For now it’s around 8480~8580.