DISCLAIMER: I am not a financial advisor nor certified analyst. All contents discussed on this blogpost are solely my own personal views and for Trading education/entertainment purposes only . Do your own research and due diligence.

With that being said, let's get into it;

4 Hour Timeframe.

Starting up with the 4h timeframe, we currently seem to have retested on a trend line which has been respected some couple of times now.

Not only did we retested, but we also we seem to have been respecting a major key level all this while on the 4h timeframe (*The thick yellow trend line).

The key level has acted both as support and resistance zone but at this point of time, it might just be acting as a support which might support a bullish movement.

1 Hour Timeframe.

Meanwhile, on the 1h timeframe, there was a recent breakout of a trend line (*purple thin trendline) which made us drop experiencing some bearish movements for some time just before we retested on a key level which acted as a support zone or area.

Where we currently are at, we retesting on that major key level can certainly relate to a bullish movement. But a break out will eventually be leading to otherwise a bearish movement.

Swap your crypto anytime for free without account registration

Until next time, Peace.