#BTC 👈4H
🚨 Bitcoin on the 4-hour frame is currently in an upward trend after a clear breakout of previous resistance areas and recording higher highs and lows consecutively.
- There is clear liquidity collected above previous highs, which suggests the continuation of the upward movement towards higher liquidity levels close to 118500 - 120000.
- The strongest support area currently is at 114500, and any correction from it is considered a buying opportunity if strong reversal candles appear.
Expected Scenario:
If the Federal news comes as expected (interest rate cut), this will likely give an additional push to the price towards areas of 120000 then 122500.
However, in the event of a surprise and no interest rate cut or maintaining it as it is, a quick correction may occur towards the mentioned support areas before continuing the upward movement.
- Advice: Do not enter before the Federal announcement and wait for the market's reaction.
Good luck to everyone❤
🚨 Bitcoin on the 4-hour frame is currently in an upward trend after a clear breakout of previous resistance areas and recording higher highs and lows consecutively.
- There is clear liquidity collected above previous highs, which suggests the continuation of the upward movement towards higher liquidity levels close to 118500 - 120000.
- The strongest support area currently is at 114500, and any correction from it is considered a buying opportunity if strong reversal candles appear.
Expected Scenario:
If the Federal news comes as expected (interest rate cut), this will likely give an additional push to the price towards areas of 120000 then 122500.
However, in the event of a surprise and no interest rate cut or maintaining it as it is, a quick correction may occur towards the mentioned support areas before continuing the upward movement.
- Advice: Do not enter before the Federal announcement and wait for the market's reaction.
Good luck to everyone❤