BTC 4H daily analysis

14 Jan 2020
BTCUSDT is currently retesting the old peak around $8450
Rebounding from the $7650.
Technical analysis for BTCUSDT today:
BTCUSDT is currently approaching the strong resistance zone around 8450.
Should NOT buy when the price approaches resistance
Should WAIT for the recovery, or wait for the break up completely before buying.
If BTCUSDT has H4 candle continue to bounced up strongly with increasing volume.
It can be a sign that the market is starting to "run".
However, since the resistance of 8450 has not been penetrated, we should not buy in a hurry.
SHOULD:
- Wait and see how BTCUSDT reacts to this resistance.
- Volume is increasing, indicating that the bulls are pushing up.
- If BTCUSDT breaks is strong 8450 is good and the uptrend continuation will be clearer, could reach 9000 in the near future.