BITCOIN 4h Update

INDEX:BTCUSD   Bitcoin / U.S. Dollar
Good Morning Traders, Investors & Gamblers ๐Ÿ˜ƒ

This is a follow up for my post from June 30th.
BTC has now reached a critical spot where it needs to close abive the Red line right around 20.270. That line represents the neckline from where we broke down and lost the 20k region.
Now it's our first target to regain that region in order to set up for another attempt at the range highs (green line) in alignment with the top of the ascending channel right around 22.500
A break above would indicate a potential trend reversal on the larger TFs.

I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.

As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! ๐Ÿ˜ƒ๐Ÿ™

Happy Trading โœŒโ™ฅ๐Ÿ“ˆ
Comment: As mentioned previously, we met strong resistance in the Red Line area which we closed exactly below.
Comment: Key area to find a bounce now, we have strong support from the 4h 20 EMA (green MA), The 50 on the Fibonacci retracement of the current uptrend also in line with the support line of that trend. A 4h close below 19.600 could take BTC straight back down to the range lows.
Trade closed: target reached: We reached our Target! Thanks you for your engagement guys, and I hope you could find some value in my idea! ๐Ÿ“ˆ๐Ÿ˜


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.