Hello guys, I hope you are doing well. Let's go for the weekly bitcoin outlook. We are in the 4-hour time frame of Bitcoin. I have told you many times about the fall of Bitcoin to the $41,000 range, as we expected, the downward movement as a settlement reached the order block area. We have to see how the price reacts at this level, if we see bullish signs, we can confirm to enter buying positions in smaller time frames.
For selling positions, it is better to wait when the price reaches the supply level (42,380-42,830) and look for selling positions until the target range of 39,000
If it breaks the supply area with a significant upward movement, we can look for sell positions in the next supply area (45780-46380).
In my opinion, it is unlikely that Bitcoin will be able to see the price of 47,000 again.
Because we can see in Dominance Tether that we had a descending channel in the four-hour time frame that was broken upwards and the pullback hit the support level and now it can move upwards well.
Your strategy of considering sell positions if Bitcoin breaks the supply area with an upward movement, and then targeting the next supply zone, is an interesting play