Bitcoin at it again can it keep moving higher or it will breakdown

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avatar of @topworlds
3 months ago - 1 minutes read


Looking at,the trendline support is resting on the $23.8k-24k horizontal support region(this means it has chances of holding a bit for a while)

However, a top down analysis of the 30 mins and 1hr Time Frame on chart indicates that price is presently trading within the range high of $25.3k zone and low of $23.3-5k zone, this region is a FVG zone on the daily TF(a strong support is resting at $22.8-23k on the 4hr TF)

What i think now is that price could redistribute further within $24.2-25k region then this downside movement will continue to $22.8-23k region if $25k reject on the 30 mins in subsequent times.

But if in the course of this continuous redistribution, $24.2-5k support holds on the 1hr TF, then a new high could be coming at around $25.5-26k.

Personally I won't be longing BTC,will keep scalp shorting on every new rejected height on the 4hr TF(using the 30 mins as my entry confirmation) cause i have this intuition that what we having at this time is an expansion of value upside that would cause for a nuke downside which will eventually enable the break of $23.5k support region on the 4hr TF and daily simultaneously (nah that time we go know say all this bullish tospay nah play smhw)