@InvestorOmar
Bitcoin Analysis; Crypto To The Moon #40. 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 https://sideshift.ai/a/Omar `Until next time, Peace.`
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