BTC outlook: 4H timeframe
For the past few days, I've been saying that the 840–845 area was a good place to short Bitcoin, and this move paid off for us. For potential long entries going forward, consider the following:
BTC is currently ranging between 800 and 845, with no clear direction. So we'll keep trading within this range until a breakout gives us a direction to follow.
There's a potential long-entry zone around 815–812. This was where BTC began its rally yesterday, and it's also the POC support for this move. If price pulls back into this area, holds above it, and gives a long signal, it's a reasonable place to enter.
The key level is 796–800. Price must not break below this zone. If it does, the vacuum below will need to be filled—and that would signal a move in that direction. $BTC
For the past few days, I've been saying that the 840–845 area was a good place to short Bitcoin, and this move paid off for us. For potential long entries going forward, consider the following:
BTC is currently ranging between 800 and 845, with no clear direction. So we'll keep trading within this range until a breakout gives us a direction to follow.
There's a potential long-entry zone around 815–812. This was where BTC began its rally yesterday, and it's also the POC support for this move. If price pulls back into this area, holds above it, and gives a long signal, it's a reasonable place to enter.
The key level is 796–800. Price must not break below this zone. If it does, the vacuum below will need to be filled—and that would signal a move in that direction. $BTC