#BTC/USD Update +
📊 4H-Frame 📉 S & R 📈 Chart Update
After a fast pullback exactly to the upper trend line of the triangle pattern, #Bitcoin started a big move and dumped hard to the 36000$ area after closing daily candles below the 42000$ support as we expected in the last analysis.
Currently, Bitcoin is trading between three strong resistances (the last one located at 37000$) and 2 major supports at about 34000$ area.
If we can bounce up fast above 37000$ and consolidate there, there will be a hope to can start a recovery from there.
But, In the case of the 34000$ break-down, we will go down to retest the most important support at 30000$ area. Which, is the most crucial level for the market to choose between starting a long-term bear market or recovering the price again!
📊 4H-Frame 📉 S & R 📈 Chart Update
After a fast pullback exactly to the upper trend line of the triangle pattern, #Bitcoin started a big move and dumped hard to the 36000$ area after closing daily candles below the 42000$ support as we expected in the last analysis.
Currently, Bitcoin is trading between three strong resistances (the last one located at 37000$) and 2 major supports at about 34000$ area.
If we can bounce up fast above 37000$ and consolidate there, there will be a hope to can start a recovery from there.
But, In the case of the 34000$ break-down, we will go down to retest the most important support at 30000$ area. Which, is the most crucial level for the market to choose between starting a long-term bear market or recovering the price again!