#BTC/USD Quick Update
📊 4H-Frame 📉 S & R 📈 Chart Update
#Bitcoin having very nice consolidation above 38000$ support, is fighting hard to break the 40000$ strong resistances area but couldn't succeed till now. It is also is confirming the breakout of the broken trend line by staying above it.
Scenario 1:
Direct break-out of this resistance will throw us to 43000$ aiming for starting a new uptrend.
Scenario 2:
Breaking down the 38000$ level by closing 4H candles below means that we may go to form a possible reverse head & shoulder pattern by retesting the 36500$ area!
⚠️ In both scenarios we need to break the most important resistances at 40000$ area and we will stay in the danger zone till then.
📊 4H-Frame 📉 S & R 📈 Chart Update
#Bitcoin having very nice consolidation above 38000$ support, is fighting hard to break the 40000$ strong resistances area but couldn't succeed till now. It is also is confirming the breakout of the broken trend line by staying above it.
Scenario 1:
Direct break-out of this resistance will throw us to 43000$ aiming for starting a new uptrend.
Scenario 2:
Breaking down the 38000$ level by closing 4H candles below means that we may go to form a possible reverse head & shoulder pattern by retesting the 36500$ area!
⚠️ In both scenarios we need to break the most important resistances at 40000$ area and we will stay in the danger zone till then.