Bitcoin consolidates at short-term support, $30k is the target
Bitcoin has a bullish structure on both the daily and the 4-hour chart. The retracement to $27.2k collected liquidity and the bulls have since driven prices to $27.6k.
The H4 bullish breaker block at $27.2k was respected as support so far. Given the daily structure, a consolidation around the
27K
region over the weekend before another leg higher was possible. The OBV has inched higher over the past week, showing the bulls had a slight advantage
Entry: $27.4k (another revisit to
27K
or lower was possible)
Take-Profit: $29.6k (local resistance on the 1-day chart)
Invalidation: $26.6k (a move below the bullish breaker block)
The H4 bullish breaker block at $27.2k was respected as support so far. Given the daily structure, a consolidation around the
27K
region over the weekend before another leg higher was possible. The OBV has inched higher over the past week, showing the bulls had a slight advantage Entry: $27.4k (another revisit to
27K
or lower was possible) Take-Profit: $29.6k (local resistance on the 1-day chart)
Invalidation: $26.6k (a move below the bullish breaker block)
Comment:
We saw a retracement to $27.4k on Monday, and it remains to be seen whether the bulls can drive a recovery
Comment:
idea invalidated as BTC fell below the H4 bullish breaker, could be time to look for shorting opportunities for BTC or especially for weak altcoins
idea invalidated as BTC fell below the H4 bullish breaker, could be time to look for shorting opportunities for BTC or especially for weak altcoins