BTC is looking kind of bullish, similar structure to prior move
If we observe the price action from back in Q4 in 2019, we can see that the structure looks exactly the same as the 4 hour in June 2020.
It is so eerily similar and with the halving completed and nothing but sideways action since then, I believe that this is a consolidation zone for BTC, which is looking to move higher from here.
I've marked all the monthly opens/closes, high/lows, with the green horizontals as support. As you can see we held the swings very nicely, looking forward, I expect most major dips to be bought and I don't think the market is going to give an opportunity for bystanders to get in cheap. But, if we lose 9k, this idea is invalidated.
If you enjoyed this simple breakdown, please hit that thumbs up and follow!
Good day :)
It is so eerily similar and with the halving completed and nothing but sideways action since then, I believe that this is a consolidation zone for BTC, which is looking to move higher from here.
I've marked all the monthly opens/closes, high/lows, with the green horizontals as support. As you can see we held the swings very nicely, looking forward, I expect most major dips to be bought and I don't think the market is going to give an opportunity for bystanders to get in cheap. But, if we lose 9k, this idea is invalidated.
If you enjoyed this simple breakdown, please hit that thumbs up and follow!
Good day :)
Order cancelled:
failed attempt to regain 9800 invalidated idea