BITCOIN ($BTC): This Level is the BUll's Last Hope
✨ New charts every day ✨
Like, Comment & Follow to help the community grow 🎉🎉
---
Bitcoin bulls stand to lose the ground they gained with the post-COVID dump / halving run if this key level can't hold. Let's take a look at the key level for Bitcoin bulls to hold, and some other levels that may soften the blow if the key level can't hold.
---
1. Fractal Trend is showing an uptrend (Aqua bar color) on the 4 hour chart. At this point it seems like a pullback to S1 is in the cards, but Fractal Trend should still be signaling an uptrend when we get there.
2. With this strategy, we we want to enter long on bullish order blocks plotted by Orderblock Mapping (Blue) and bullish S/R levels plotted by Directional Bias (Blue). This is our trend continuation method of buying key levels in pullbacks/corrections within the overarching trend and not attempting to catch knifes.
3. S1 represents a sort of last stand for the bulls. Below S1 we have S2, which could also act as support if S1 fails.
4. Below S2 things get dicy. We have lots of bullish orderblocks, but none of them have shown themselves to be particularly significant yet. If we do break lower, it may be a dice roll as to which of these levels the whales have their orders stacked.
5. Ultimately, if we break below S2, the uptrend will likely be compromised according to Fractal Trend and it'll be time to do another chart with a fresh outlook.
6. To the upside, R1 provides a logical spot for resistance. Although you can also see our previous Bitcoin chart for which higher levels are in play on a move up.
✨ New charts every day ✨
Like, Comment & Follow to help the community grow 🎉🎉
---
Bitcoin bulls stand to lose the ground they gained with the post-COVID dump / halving run if this key level can't hold. Let's take a look at the key level for Bitcoin bulls to hold, and some other levels that may soften the blow if the key level can't hold.
---
1. Fractal Trend is showing an uptrend (Aqua bar color) on the 4 hour chart. At this point it seems like a pullback to S1 is in the cards, but Fractal Trend should still be signaling an uptrend when we get there.
2. With this strategy, we we want to enter long on bullish order blocks plotted by Orderblock Mapping (Blue) and bullish S/R levels plotted by Directional Bias (Blue). This is our trend continuation method of buying key levels in pullbacks/corrections within the overarching trend and not attempting to catch knifes.
3. S1 represents a sort of last stand for the bulls. Below S1 we have S2, which could also act as support if S1 fails.
4. Below S2 things get dicy. We have lots of bullish orderblocks, but none of them have shown themselves to be particularly significant yet. If we do break lower, it may be a dice roll as to which of these levels the whales have their orders stacked.
5. Ultimately, if we break below S2, the uptrend will likely be compromised according to Fractal Trend and it'll be time to do another chart with a fresh outlook.
6. To the upside, R1 provides a logical spot for resistance. Although you can also see our previous Bitcoin chart for which higher levels are in play on a move up.
