BITCOIN The underlying Pivot line will give a big swing next

This analysis is on the shorter-term than what I usually do, the time-frame is the 4H, but I had to bring forward to you this key Pivot Line. As you see since the October 20 High, Bitcoin has bounced on this Pivot trend-line 4 times (including today). Two time got rejected as a Resistance (red arrows) and another two bounced as a Support (green arrows). Actually the latest one it remains to be seen. The 4H MA200 (orange trend-line) is almost on the Pivot line, adding more weight to that as a Support. So will it hold?

** The September fractal **
A partial answer can be given by the very same fractal of that Pivot line seen in September (started late August). The break-out above the Pivot was short-lived then and on the 2nd test as Support, it broke rather aggressively below it again. Interestingly enough, this is where we are at now proportionally (i.e. 2nd test as Support after two as Resistance). It then traded for a whole month on Lower Lows, which the bottom coming on the 2.0 Fib extension at -25% from the Pivot's High.

Currently those analogies are within $50500 - $51500. Based on that fractal, if BTC breaks below the current Pivot Line, it possible to see such lows. Would you agree?

Feel free to share your work and let me know in the comments section!



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