Hello folks,
Welcome to this another important post on BTC price in 4 hours timeframe.
Thank you for being so supportive of this community. It’s an honor to serve you guys with quality content and charts.
Well, BTC showed some sideways consolidation as expected and currently bouncing back from the support. As you guys can see that BTC is trying hard to break out above the upper trendline and as well as maintaining the lower support. BTC has already tried twice to reach the $45k to $46k resistance levels but failed. If BTC breaks above the $43.2k level then it will be the third time BTC will try to break through the $45k resistance.
Remember, $40k is a critical support level. Breaking down this support will drop the price to $38k.
I am expecting a bounce from the current price keeping in mind the rejection.
What do you think about the BTC price move?
Do you think BTC will bounce?
Do you think BTC could reach $45k?
Do hit the like button and share your views.
Every single likes and comment are highly appreciated and it motivates me to post more quality updates.
See you guys soon with a new update.
Welcome to this another important post on BTC price in 4 hours timeframe.
Thank you for being so supportive of this community. It’s an honor to serve you guys with quality content and charts.
Well, BTC showed some sideways consolidation as expected and currently bouncing back from the support. As you guys can see that BTC is trying hard to break out above the upper trendline and as well as maintaining the lower support. BTC has already tried twice to reach the $45k to $46k resistance levels but failed. If BTC breaks above the $43.2k level then it will be the third time BTC will try to break through the $45k resistance.
Remember, $40k is a critical support level. Breaking down this support will drop the price to $38k.
I am expecting a bounce from the current price keeping in mind the rejection.
What do you think about the BTC price move?
Do you think BTC will bounce?
Do you think BTC could reach $45k?
Do hit the like button and share your views.
Every single likes and comment are highly appreciated and it motivates me to post more quality updates.
See you guys soon with a new update.
Update on the current BTC price action in 2 hours' time frame.
BTC bounced back strong after reaching $40900 near the support level. This bounce broke all the odds and push the price towards a bullish momentum. But if you see the updated chart, BTC is currently getting rejected from the resistance trendline drawn in the chart. It already got rejected twice from the same trendline and the question that arises is "Will it be the third rejection?"
Rejection or a breakout, anything can be possible. All we need is a confirmation. A rejection will drop the price bad and a breakout will push the price to test another resistance level which is at $44700.
It is always a better decision to wait for confirmation before rushing into a decision.
Let me know in the comments what you think about the BTC price action.