#BTC UPDATE.
#BTC is still trading with same resistance and same major support on macro level,while on the micro level the red line emerging as the strong support on 4H and btc has been able to trade above this support since 24hours now.
👉🏻For me a close below the red line support on 4H will again be a bearish sign.
If you can see the dragonfly doji formed on the weekly time frame then you will understand why bitcoin will respect the channel. The channel formed on d1/h4 shows bitcoin is going to test the 10000 area again. trade wisely.
in 14th july bitcoin started to form a inverted head and shoulder-like move until 20 july, then it failed to form right shoulder and started a channel toward downside.
then again it made pretty much exactly the same pattern but a smaller one as i drew in the chart. i've seen these fractal patterns repeat themselves at least 4 times especially in corrections, like...
