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Bitcoin has not been able to gain much momentum in either direction after rebounding from the recent low near $150 per bitcoin. As indicated by the yellow rectangle, price action on the 4H chart is in tight consolidation.
Price is also resting on an ascending trend line on weak momentum. A close below will likely cause further selling, although lower support ...
Hello fellow traders!
The red lines signify support levels that are likely to become resistance levels in the days and weeks ahead as the price trends upwards.
Resistance levels to look out for
$424 Tested as support
$467 very well tested as both support and resistance - price may bounce around a bit between 467 and 424
$544 tested as support and ...
Providing the recent (5mins ago) $547 price was a top.. (and I have no idea if it is.. I'm just postulating that it is for the sake of this chart...)... and the bull train doesn't keep on going... I would expect to see something of this...
But this is bitcoin.. so who knows.. honeybadger no care for TA when in bullmode.