BITCOIN 🟩 Bullish Multi TF levels for Range Bound Bitcoin

💬 Nearly 4% of the UK owns Bitcoin and other cryptos. Of those 1.9 million people, 100% of them are growing weary of this sideways price action (despite one report calling for $400k BTC).

But fear not Bitcoin Brits, we got your back with our handy daily TA. Let's look at some Bitcoin levels on the 4h and 30m to see what the bulls and bears will need to do to pick a direction and break this range.

Hit that 👍 button to show support for the content!
Help the community grow by giving us a follow 🐣



-----



Support 30m:
S1: If the bulls want to keep moving up they will want to find support on the 30m S1. In other words, the bulls have a little wiggle room, but they will want to move up with momentum here.


Resistance 30m:
R1: The R1 orderblock and S/R flip is the first point of local resistance. Bulls will want to break this and find support on top of it before moving up.

R2: If the bulls can take it up then we have the R2 orderblock formed during the breakdown to contend with, a rejection here would be bearish as there is a much clearer resistance above.

R3: The R3 orderblock and S/R flip cluster at the previous swing highs is the target for a lower time frame move for the bulls, this lines up with the R1 on the 4h.





4 Hour Time frame:

Support 4h:

• S1: The S1 orderblock from the recent swing low is the first level of support for BTC. This level has already been interacted with and validated, so it is likely of a reaction again.
  
  
• S2: The S2 S/R flip is where price most likely finds support if S1 can't hold. S1 was reacted to previously and is a reiteration of a previous S/R, so it should at least see a reaction. Below S2 things get dicey for the bulls and bearish continuation is likely.
  
  
  Resistance 4h:
  
• R1: The R1 bearish orderblock left at the failed swing high is the bears' first point of defense. Grinding sideways for so long has given the bears some strength, making a show of force by smacking down R1 is just what the bulls don't need.
  
  
• R2: If the bulls can push price past R1, then the R2 orderblock at the previous failed swing high before the S1 swing high is likely to see a reaction. Ideal price action for bulls is a breach of R1, a retest of R2, and then a retest of R1 as support before continuing higher.
  
  
  
  -----
  
  
  
  Summary:
  With Bitcoin grinding sideways below resistance for months, it is hard to be overly bullish on Bitcoin. That could be sad news for the Bitcoin Brits if the bulls can't step up and take out resistance soon.
  
  
  Resources:
  decrypt.co/34098/nea...her-cryptocurrencies + thenextweb.com/hardf...bitcoin-in-10-years/
  
  
  ✨Drop a comment asking for an update, we do NEW setups every day!✨