Bitcoin trading setups

1 ביוני 2020

#BTCUSD #Bybit #1hr
- Here is BTC 1hr. As I have mentioned previously, BTC has touched the resistance area around 9750 and has gone through some correction.
- The orange long-term down trend line, which I have emphasized many times before, has not been broken yet.
- The short term resistance areas that could be considered are 9680~9720 and 9770~9830.
- The 9770~9830 is the resistance that is based on the orange trendline. Therefore, if BTC succeeds breaking it above, we can expect some bull run.
- In a shorter term, we need to pay attention to bottom of the red channel. Right now, some side volumes have been created at 9530~9560 and it is about to get some correction.
- If more correction emerges, we can expect some decent supports at 9300~9360 and 9190~9240.
- If the bottom of the red channel is broken below, C correction wave scenario becomes more feasible. So those in long position has to be careful.